Thomas Cook shares lift off
CUTTING the number of holidays it offers means travel group Thomas Cook is jetting away from recessionary gloom to meet City profit expectations.
The move saves the group from having to offer unsold holidays at a loss-making discount later in the year, and the shares rose 6¾p to 209p.
The company had also benefitted from being light on its feet, and switching to new destinations in response to customer demand.
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In particular, the group said UK customers were looking to go to non-euro areas such as Turkey and Egypt to keep costs down.