In a trading update for the three months to June 30, 2018, Thomas Cook Group said bookings for the summer were up 11% overall, “fuelled by strong growth in our group airline”.
It added that revenues were up in all segments, with higher pricing and customer growth across both the tour operating and airline businesses.
The group’s airline business comprises Thomas Cook Airlines UK, Condor in Germany and Thomas Cook Airlines Scandinavia, as well as the new AOC in the Balearics.
Group airline operating profit grew by £5 million, helping to offset a £6 million reduction in operating profit for the group tour operator.
Group airline pricing increased by 8% to short and medium-haul destinations, and by 2% to long-haul destinations. Overall airline pricing was up 1% “due to the shift in mix towards short and medium-haul flying”.
It follows speculation in the media that Cook plans to sell its airline.
Citing “industry sources”, the Sunday Times reported Cook was potentially preparing to split off its airline from its tour operator arm.
The paper said the move would ease the company’s debt burden and allow it to expand.
Responding to the Sunday Times report, a Cook spokesperson said: “Thomas Cook has consistently said that we are open to playing our part in consolidation where it makes sense for our business. “We have no current plans to sell our airline.”
Quizzed by journalists on the topic during the trading update media call, Peter Fankhauser added: “We have consistently said that we are open to consolidation where it makes sense for our business and tour operation.
“Currently we have no current plans to sell our airline – and there’s nothing more to say because I’m not participating in any speculation.
“You have consistently seen those kind of articles – even three years ago – and we’ve consistently said we’re open to playing our part in the consolidation in Europe.”
