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Thomas Cook, the struggling tour operator, has reported that its summer booking levels have fallen by a third. January is usually a key time for travel operators as people are booking their summer holidays but holidaymakers are spending less money on travel and this has caused a significant fall in booking levels. The average decline in [...] 
Over 25% of Thomas Cook’s market value was wiped out yesterday when the travel company warned on upcoming reduced profits, blaming weak spending by consumers in Britain and the unrest in both North Africa and the Middle East. A strategic review of its business in the UK was announced after the trading woes of the second-biggest [...] Along with most other business concerns, the travel industry is feeling the crunch of economic hard times. TUI Travel, the largest travel operator in Europe, reported this week that the company’s annual profits will be “at the bottom end” of projected estimates, and the news was reflected in the drop in share prices of almost [...] |
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