Thomas Cook says summer bookings up

Thomas Cook, Europe's second biggest travel firm, said summer bookings were ahead of last year, with strong growth in Germany and Northern Europe offsetting a weaker picture in the UK. The firm said on Tuesday cumulative UK summer bookings were up one per cent, although the rate of booking intake had slowed noticeably as a result of continued economic uncertainty.

It said its Airlines Germany cumulative summer bookings were up nine per cent, while Northern Europe's were up 11 per cent. "Overall, the business is performing well, given the disruption caused by the unrest in Egypt and Tunisia," said Chief Executive Manny Fontenla-Novoa. The firm warned in February that unrest in Egypt and Tunisia would wipe around £20 million ($32.05 million) off its second-quarter profit. Shares in Thomas Cook closed Monday at 166.9 pence, valuing the business at £1.43bn.