Saturday, May 17, 2008

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Is Holiday Travel Recession-Proof?



On 15 May 2008, Thomas Cook, the second largest travel agent in Europe, reported that its losses were down from €267.6m (£212m) last year to €193.6m this year. (Is Holiday Travel Recession-Proof?)

Thomas Cook claims it is on course to have operating profit of €620m by 2010.

According to Thomas Cook: 'Trading for summer 08 continues to be strong in all major markets with robust consumer demand.'

Thomas Cook said that Europeans place 'a high priority ... on their major foreign holidays'.

TUI Travel reports that it has cut pre-tax losses to £294m from £339m the year before.

One analyst pointed out that the companies make all their money in the second half of the year, which includes the summer revenue.

'There are linear costs for the whole year, such as planes, shops, staff. The trick is about minimising your losses in the winter and maximising your profits in the summer,' he said.

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