Thomas Cook needs 400 million euro

Thomas Cook needs 400 million euro

To reach its profit forecasts, British travel agent Thomas Cook has decided to sell a part of its activities. Next to the 170 million euro the sale should produce, Thomas Cook is also preparing extra cuts to generate another 230 million.

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.

Questions or comments? Please feel free to contact the editors


Shoptalk Europe: prices go up at midnight

21/09/2017

(advertorial) Shoptalk Europe, the event for retail and ecommerce innovation held 8-11 October 2017 in Copenhagen, covers trends, technologies and business models reshaping how consumers discover and shop in an age of digital disruption.

EuroCommerce: protectionism, Europe’s greatest challenge

15/09/2017

(Content provided by EuroCommerce) According to EuroCommerce Director-General Christian Verschueren, the sector faces many challenges due to a rising tide of protectionism worldwide and within Europe.

Last ten days for cheaper tickets Shoptalk Europe

14/09/2017

(advertorial) Shoptalk Europe (8-11 October in Copenhagen) is the new event for retail and ecommerce innovation. It covers transformational trends, technologies and business models reshaping how consumers discover and shop in an age of digital disruption.

"EU has to define eCommerce's boundaries better"

13/09/2017

Dutch European Parliament member Marietje Schaak feels the European Commission should create a better framework for digital trade in and with European member states. Otherwise, major internet companies will decide the standards themselves, she fears.

Europe wants legal framework for franchisees

13/09/2017

The European Parliament has accepted the “The functioning of franchising in the retail sector” study, which lists several solutions to strengthen a franchisee’s position.

Google appeals European fine after all

12/09/2017

Despite earlier indications that Google would just alter its Google Shopping approach to comply with European legislation, it has now decided to appeal the monster fine.

Back to top