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The unexpected result of the heat wave on Thomas Cook



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Thomas Cook, the British tour operator, announced on Thursday that he had fallen to the red in 2017-2018, indicating a lower demand for southern holidays due to the summer heat wave in Europe.

In its annual financial year ending at the end of September, the group downloaded a net loss of 163 million pounds (184 million euros), against a net net profit of 10 million pounds the previous year, according to data. has redesigned published in a press release.

"2018 was a disappointing year for Thomas Cook, despite a significant increase in our model transformation strategy, and after a good start to the year, we saw a decline in our margins due to long summer heat in our main markets," he said. 39; r managing director Peter Fankhauser.

The tour operator, founded in 1841, sells holiday in the southern countries, especially for customers in northern Europe – the United Kingdom, Germany and Scandinavia. The hot summer in these northern areas pushed potential tourists to stay at home rather than travel to normal sunny destinations and this undermined the edges of the group properly.

Thomas Cook also introduced a higher tax than the previous year to explain the downturn at his bottom.

However, he also mentioned a few positive points, including an increase in popularity popularity such as North Africa, Turkey and Greece, which offset lower revenues from Spain where the tourist appeal had risen. previous years.

Thomas Cook also highlighted the growth of airline operations operated by the airlines – including the German Condor and the British Cook Cook Airlines. Its air activities benefited from the bankruptcy of two companies that competed last year, Germany Air Berlin and the Queen of Britain, in a striking European aircraft sector.

Its turnover, including all activities, increased by 6% to 9.584 billion pounds (10.8 billion euros).

The group has confirmed that the dividend paid normally to shareholders is suspended over the last financial year two days ago – at a discount price of more than 20% of shares on the London Stock Exchange March.

For the current year 2018-2019, Thomas Cook says he wants to continue his strategy to improve his travel, through his airline and in a hotel that he offers. It ensures that it can raise its operational profit, which has broken by half a good in the last financial year.


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