The Thomas Cook Group has confirmed a 5% cut in UK capacity for winter 2007/08 as it continues to end unprofitable programmes.
Marking the end of the group’s financial year, the board reported cumulative bookings for this winter down 3% year on year, with average prices in line with last year. It said margins per passenger had shown “a marked improvement year on year” in recent weeks.
Early indications for summer 2008 remain good, said the group, which continues to adjust its flying programme to enhance yields.
The integration of Thomas Cook and MyTravel in the UK is reported to be proceeding “quickly”, with major tour operator IT systems migrating to a single platform last week. The group is “increasingly confident” the resulting synergies will save it more than the predicted €140 million within 30 months.
Thomas Cook sales for this winter in northern Europe have grown 13%, with a 7% increase in capacity and average selling prices also 7% up. Winter sales in Continental Europe are up 3%, with no change in average prices.
Load factors aboard the group’s German airlines this winter are 4% ahead of the same period last year.