Thomas Cook reports challenging trading

Travel giant Thomas Cook said UK summer bookings were down 5% today as the firm continued to report “challenging” conditions in several markets.

The update from the German-owned company comes a day after it put up to 2,800 jobs in UK and Ireland at risk with plans to close 150 shops and six offices following its merger with rival MyTravel earlier this month.

Thomas Cook said it had reduced aircraft seat and hotel room reservations by 5% over the year, while average selling prices remained flat.

Pro-forma losses for the combined group were 8% lower at €293m for the six months to April 30, usually a loss-making period for the travel industry.

Bookings in Northern Europe, North America, continental Europe and Germany have also fallen, the travel agent said.