Turkey is Thomas Cook's second largest destination and the unsettling security situation there has hurt demand. Worries over the EgyptAir missing plane sent Thomas Cook's shares lower, as well.
Lufthansa's CEO on airline consolidation in Europe: “So we are speaking with everyone, and everyone is speaking to us.” Enough said.
Thomas Cook doesn't make decisions like this lightly. It's a clear sign of the brand's dropping confidence in Egypt's leadership and the country's safety for package tourists.
Tour groups aren't immune to danger from terrorists any more than travelers who aren't on tours. It's tour operators' customer service on the ground and ability to facilitate travel disruptions that has some travelers flocking to them.
Thomas Cook is facing increased competition in the Caribbean and a partnership with Lufthansa could help the tour operator to control its costs.
We would argue that by comparing itself to what TUI is doing Thomas Cook is missing some of the bigger changes in travel consumers' behaviors.
It may hurt Thomas Cook this quarter, but it has thousands of customers that it did right by after the Tunisia attack who will speak well of it for years.
Harriet Green was eligible to receive up to 7.1 million shares of Thomas Cook based on the company's performance but was only awarded 4.1 million. Some on the board were clearly not totally happy with the ex-CEO.
Tourists, cash in hand, are still traveling to Greece this summer but the situation could get worse if Greece and the EU go nuclear in their negotiating impasse.