The tour operator last month said the attacks in Paris in November and a bomb blast in Istanbul’s Sultanahmet Square in January were causing delays to bookings.
Thomas Cook said it had sold 2 per cent fewer of its summer holidays than at the same point a year ago. Chief executive Peter Fankhauser said the company “continues to operate in a volatile market environment” and that customers were taking more time to “consider their options”.
Last year the company returned to profit for the first time in five years but in the first quarter its loss before tax grew from £115m a year earlier to £116m.
On Tuesday, Thomas Cook said bookings to Turkey were “significantly lower” while overall conditions “continue to be disrupted by a volatile geopolitical backdrop”.
Simon French, analyst at Cenkos Securities, said “sentiment will continue to hold the stock back”. He added that the company’s full-year guidance “requires a sustained recovery in consumer confidence”.
Destinations such as Spain, the US and Cuba remained popular.
Rival Tui warned last month that summer bookings to Turkey had fallen sharply and holidaymakers were choosing Spain and Greece instead.
Culled from: Financial Times