Cook posted a half-year (H1) pre-tax loss of £1.45 billion on Thursday morning (16 May), down more than £1 billion from £303 million this time last year.
A large part of this, said Cook, was due to a £1.104 billion “goodwill impairment” arising from its 2007 merger with MyTravel.
However, despite this, underlying profit fell £63 million from £672 million to £599 million while its underlying operational loss grew £65 million like-for-like, including the impact of foreign exchange and a late Easter, to £245 million, which Cook said reflected the pressures on margins in its tour operating division.
