Thomas Cook shares rise on winter bookings outlook

Shares in Thomas Cook had risen by as much as 5% this morning, but slipped back as the morning went on to sit 2% higher at 118p.

Its Northern European holidays were 99pc booked, and prices for the region were up by 4pc.

There was no mention of any United Kingdom late bookings surge, which benefited budget airlines Ryanair and easyJet in August as holidaymakers made last-minute dashes for sunshine amid the gloomy weather at home, while also looking to take advantage of the strong pound.

“Yesterday reported a steady picture of trading through the summer holiday season and an encouraging outlook for the winter ahead”, said the column. At that point it warned of a profits shortfall of £25m due to a weaker euro, the Greek crisis and the terrorist attack in Tunisia in which 30 British tourists were killed.

The winter programme is 39% sold, with all major source markets ahead of previous year in terms of booking volumes, with improved pricing trends particularly in the United Kingdom and Northern Europe.

“Our trading performance for the summer season has progressed well, despite the impact of external shocks in certain destination markets, as previously announced”.

The Group expects its financial results for the current financial year to be in line with expectations at the time of its third quarter announcement in July. Tunisia remains closed for business following the tragedy in June.

The holiday group also came under fire for its response to the inquest into the deaths of two young children Bobby and Christi Shepherd, who died from carbon monoxide poisoning while on a Thomas Cook holiday in Corfu nine years ago.

The popularity of the U.S. and the Caribbean as summer destinations is also increasing, rewarding Thomas Cook’s recent expansion into more long-haul routes.

Across the group, summer capacity was 91 per cent sold, the same level as a year ago.