Saving costs
Thomas Cook has already set a plan in motion to
save 350 million euro by 2016. That target has been raised to 400 million euro,
of which 70 million has already been realised. Harriet Green, CEO of Thomas
Cook, said that saving costs will remain a top priority for the company.
Green also announced that the transformation
plans of Thomas Cook are proceeding faster than expected. The company is
expecting to make 570 million euro through the sale of new products, mainly
online bookings, by 2015.
Share lost 92% of its value
Since consumers in the UK started travelling less
in 2011 because of the economic crises and the turbulent times in the North of Africa, the Thomas Cook share lost 92% of its value. The company was saved by an emergency loan
and since then the share has been recovering. In 2012 the value tripled and
since the beginning of 2013 it rose another 81%
Thomas Cook is planning on turning its entire organisation
inside out and based on the results the company will devise a plan of action. The issue
of bonds or stocks are part of a possible scenario.
