Thomas Cook Group saw its combined businesses reduce their pre-tax seasonal losses by €25.4 million to €293.0 million for the six months to April 30 2007 and cut their operating loss by €22.9 million to €323.1 million.
Operating losses at MyTravel were cut to €102.3 million (£69 million) year on year compared to €220.8 million (£149 million) at Thomas Cook.
In the UK the Group revealed that although bookings for summer 2007 were down 5% year on year it had reduced capacity by the same amount in anticipation. As a result it had managed to sell 74% of its capacity, broadly in line with last year, with average selling prices also flat year on year
Thomas Cook Group joint chief executive Manny Fontenla Novoa said “significantly improved” trading conditions in the UK for the remainder of the summer would contribute to a full-year financial performance for 2007 “in line with expectations”.
Fontenla Novoa added: “The merger has created a very strong platform for us to compete in an increasingly diverse, growing and international travel market, bringing together complementary brands and increased geographic reach.”
In a statement the Group also announced that it had appointed two new non-executive directors to its Board. Hemjo Klein and Bo Lerenius will take on their new roles with effect from July 1 2007.