European Heat Wave to Singe Thomas Cook’s Profits
Photo Credit: Sun loungers at Thomas Cooks Sentido Carda Beach Atlantica, in Kos, Greece. The operator expects profits to be at thr lower end of its guidance. Thomas Cook Group
Skift Take
The impact of the heat wave isn't as bad as some expected, but it has put a damper on what was turning out to be a good year.
Europe’s long hot summer has taken the edge off Thomas Cook Group’s profit with the tour operator expecting its bottom line for the year to fall to the lower end of current market guidance.
Full year earnings before interest and taxes will likely be around $425 million (£323 million) —not quite the disaster many in the industry suggested but clearly below what the company had hoped for.
"In terms of tour operator performance, I don't think it will surprise any of you to hear that bookings have been impacted by the exceptionally warm weather in the last few months across our key European source markets," CEO Peter Fankhauser said
