THOMAS COOK ON SCHEDULE

The company saw strong summer trading, was enjoying “encouraging” prospects for the winter and profits expectations were on track.

However, the shares slid 13fp to 255fp on concerns regulators might scupper a merger between its Ger­man airline Condor and Air Berlin.

Chief executive Manny Fontenla-Novoa moved to calm fears about the rising cost of fuel and the impact of the fall in sterling against the euro, saying it was largely hedged for much of the year. “I remain confident we will achieve our goals this year,” Fontenla-Novoa said.

Collins Stewart analysts said the risks seemed to have increased for Thomas Cook, despite the results.
 
The company, part of German group Arcandor, reports in euros. It made a winter loss of e193.6million (£153milllion) against e267million losses previously.

Thomas Cook was also developing businesses in India and the Middle East and was hoping to move into China, he added.

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