Arab Today, arab today thomas cook group posts deeper losses
Last Updated : GMT 09:41:15
Arab Today, arab today
Arab Today, arab today

Thomas Cook group posts deeper losses

Arab Today, arab today

Arab Today, arab today Thomas Cook group posts deeper losses

London - AFP

Travel firm Thomas Cook on Wednesday posted deepening losses, hit by the eurozone crisis, Middle East unrest and high fuel costs, and added it was mulling options for its French and North American units. Thomas Cook said in a results statement that it suffered a loss after taxation of £585.9 million ($937.9 million, 725.5 million euros) in the year to the end of September. That compared with a shortfall of £520.7 million last time around. Total revenues fell 3.2 percent to £9.5 billion in a \"difficult\" trading environment, as customers in Europe shunned destinations in the Middle East and North Africa (MENA) area -- particularly in Egypt, Tunisia and Morocco. The debt-laden company\'s performance was also hit by high fuel costs of £100 million, and ongoing restructuring measures that are aimed at turning around the company\'s fortunes. However, Europe\'s second-largest travel company added that the annual losses masked an improvement in the final three months, while bookings for the current winter season were strong. \"The West Europe segment has continued to be affected by the ongoing political unrest in the MENA region and the economic uncertainty caused by the European debt crisis,\" Thomas Cook said in the earnings release. \"In the MENA region, we have seen some recovery in demand for Tunisia but less than anticipated for Morocco and the important market of Egypt has deteriorated further.\" West Europe revenues tumbled by 13.9 percent after capacity reductions in all markets, especially in France. North American revenues meanwhile slumped 15.2 percent, hit by persistent market overcapacity, a very mild Canadian winter and the loss of a key premium hotel contract. \"We saw a continuation of the previously announced poor trading in our French and North American businesses and we are taking steps to minimise cash requirements and considering the best long term options for these businesses. \"The French market is acutely impacted by both domestic economic uncertainty and the political unrest in the MENA region, as the French-speaking destinations of Tunisia and Morocco are very popular with our French customers.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today thomas cook group posts deeper losses Arab Today, arab today thomas cook group posts deeper losses

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:38 2017 Friday ,24 March

Pass health bill Friday or he'll move on

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday