Thomas Cook records good summer bookings

UK-based travel company, Thomas Cook has said that that it has seen good numbers of bookings in the late summer as British tourists tried to escape the wettest summer season ever.

The company said that bookings in summer has been good and gave much needed hope to the investors that the company will move on recovery path gradually after almost collapsing in the previous year due to high amount of debt. Investors now believe that the full year financial results will be in line with the market expectations.

The company has kept its full year guidance unchanged as the bookings recovered due to tourists choosing countries including Turkey, Spain and Greece. The total number of bookings at Thomas Cook's UK business recorded a moderate fall of just 1 per cent after almost falling apart due to a price hike in the summer offering.

Thomas Cook's newly appointed chief executive officer, Harriet Green said, "My priority has been to ensure a renewed focus on delivering to our plans for the current financial year."

The company is expected to earn a pre-tax profit of £17m this year, which is reduced due to the huge cost of servicing its debt burden. The company had reported a loss of £ 25.4 million during the first quarter till June 2012.