Peterborough-based Thomas Cook reveals £1.4 billion loss
17 Mai, 2019, 17:04 | Auteur: Auguste Feret
Travel firm Thomas Cook has warned of "further headwinds" for the rest of the year after reporting a £1.5bn loss for the first half of the year.
Thomas Cook's figures for the six months to March 31, show sales fell to £3,019 million compared with 3,227 million for the same period previous year.
Shareholders reacted to the latest torrent of bad news with another sell-off as shares in the business slumped almost 15% to 19.6p. For summer 2019, tour operator bookings are down 12 percent but pricing is up 2 percent. It has slashed the number of holidays it offers in response to weaker demand, and is offering big discounts to entice United Kingdom customers.
CEO Peter Fankhauser says "there is now little doubt that the Brexit process has led many United Kingdom customers to delay their holiday plans for this summer".
"With a lot of holidays left to sell across the market, there are high levels of discounting at this early stage of the season".
The Association of British Travel Agents (Abta) said trading had been tough for the entire travel sector in the last few months, as customers wait to see what happens with Brexit before making a travel booking.
Boss Peter Fankhauser said there was "now little doubt" that Brexit had caused United Kingdom holidaymakers to postpone their summer travel planning, with no pick-up since the European Union withdrawal deadline was put back by six months.
"The continued competitive pressure resulting from consumer uncertainty is putting further pressure on margins", Fankhauser said.
Thomas Cook, which has puts its airline up for sale, said it was also encountering higher fuel and hotel costs, and warned underlying profits in the second half of 2019 would be behind the same period past year.
Fankhauser said the company was assessing bids for its airline unit.
Lufthansa has said it put in an offer for Thomas Cook's German airline Condor while Virgin Atlantic is reportedly interested in the long-haul business.
To date, Thomas Cook has closed 21 branches across the United Kingdom and slashed its available holiday packages due to weakening sales.
The debt-laden company has struggled recently, as a fall in demand for package holidays and intense online competition resulted in a string of profit warnings.
Thomas Cook said more of its 566 stores could close as leases end, and that 150 roles would be cut from its Peterborough head office.
Mark Benbow, a fund manager at Kames Capital, said: "Thomas Cook is by no means alone in facing uncertainty. Tui is the next weakest in the market in terms of its debt". The company carried out a rights issue in 2013 to shore up its balance sheet.
Russ Mould, AJ Bell investment director, said Thomas Cook's mounting woes raise the prospect of a possible bid for the firm. Thomas Cook opened 12 more hotels in the first half, taking the total to 200 hotels, including franchised outlets, and is aiming for 250 by 2021.
"We normally have a holiday in France every year". There has been a boom in short city breaks to San Francisco and Las Vegas.
The new plan would focus on reducing family-based immigration to the U.S.in favor of employment-skill-based immigration. Yamiche Alcindor talks to Amna Nawaz about the plan's details and its likely reception by Congress.
Details may be scarce, but thankfully, fans won't have to wait long to catch the captain in action again. Via StarTrek.com, the series has been given the simple, yet effective moniker of Star Trek: Picard .
Using this online database, you can look up a specific hospital or search by community to see the spring 2019 grades. Forty-two IL hospitals got the highest grade for patient safety; 30 earned a B; 33 got a C; and five got a D.
He allegedly fired an assault rifle through the door of his apartment at police, the Department of Justice said. Scott Brady, the USA attorney in Pittsburgh , called it "a paradigm change in how we prosecute cybercrime".
That amount of love that I felt from my friends, my family, and the people in the community was absolutely overwhelming. Speaking with Deadline , Gunn went over how his firing by Disney impacted his life and how he viewed himself.
It's clear the 49ers' head coach found ways to utilize Toilolo in an offense in more ways than other offensive play callers have. His primary understudy, Garrett Celek , turns 31 later this month and is entering the final year of his contract.
"Merkel et Macron assument leurs " confrontations
Et d'évoquer le discours sur la Sorbonne prononcé par Emmanuel Macron en septembre 2017, en faveur d'une relance de l'Europe. Angela Merkel souligne aussi que les "cultures politiques" de la France et de l'Allemagne diffèrent.
Practice? Beckham spends 1 day with Browns, leaves again
Kitchens said he has talked to Johnson "a few times" and believes the versatile back will report next month. "It is voluntary. Jarvis Landry, who was here on Tuesday, is outside watching his teammates practice but isn't participating.
Britain's female unemployment rate at lowest since 1971
Ben Brettell, senior economist, Hargreaves Lansdown said the unemployment figures were strong given the issues facing the economy. The UK's employment rate of 76% is at a joint record high, while for women it has reached the highest on record at 71%.
Edge of Extinction Declares a Winner — Survivor
At the first tribal council, Rick plays the hidden immunity idol for himself, and Lauren plays hers for Chris . After Chris was brought back from Extinction (narrowly beating Joe), Devens used a real idol to save himself.
Every Celebrity Cameo in Game of Thrones
Rodgers has been an extremely vocal fan of the show as well, talking about it previously on shows like "The Dan Patrick Show". Meanwhile, you can catch the final episode of the series next Sunday which will surely be a memorable television spectacle.
'We Must Not Go to War With Iran'
They were formally incorporated into the Iraqi security forces previous year , but continue to operate semi-independently. Britain, historically the United States' closest ally, is openly balking at the prospect of a war with Iran .
Tesla's trumpeted solar shingles are a flop
It was not immediately clear whether those jobs are included in the count toward meeting the state targets. Tesla planned to use them in its Solar Roof, a system meant to look like normal roof tiles.