Riots hit Thomas Cook profits

British tour operator Thomas Cook warned today that political unrest in travel hotspots Egypt and Tunisia would hit second-quarter profits by around £20m (€23.65m).

The group said that, while UK government travel advice on Tunisia had improved, restrictions to Egypt were ongoing for all but the Red Sea resorts amid escalating anti-government protests.

Thomas Cook said it was switching its travel programme to other holiday destinations to help offset the financial impact.

Riots on the streets of Tunisia last month forced 3,000 British citizens to return home, while the uprising in Egypt has prompted the British Foreign Office to advise against all non-essential travel to the cities of Cairo, Alexandria, Luxor and Suez.

Manny Fontenla-Novoa, group chief executive of Thomas Cook, said: "The situation in Tunisia and Egypt is fast-moving and our principal concern is for the well-being and safety of our customers.

"We continue to monitor the situation closely and contingency plans have been implemented to redirect our holiday programme to other destinations and help mitigate the financial impact."