Heading to the sun despite the credit crunch
May 24, 2008
Despite a global credit crisis people are still booking their holidays in their thousands. There had been fears off a spending squeeze but according to Thomas Cook many are not willing to sacrifice a holiday.
Thomas Cook who are Europe’s second biggest travel firm have said demand for its summer breaks is very strong.
The group which Thomas Cook belongs to was created from the tie up of Arcandors travel unit and British company MyTravel. They have said they remain confident that they will meet expectations for the current financial year despite rocketing fuel costs and the weaker pound.
Thomas Cook confirmed they are on track to achieve merger savings in excess of almost £160m by 2008/9.
www.thomascook.com
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