Thomas Cook posts 37% profit growth despite disruptions
The airline division of Thomas Cook Group weathered summer European aviation disruptions to post a 37% profit growth to GBP129m (US$150m) for the financial year ended Sept 30. “The European aviation market was marked by disruption in summer 2018 caused by delays of the registration of new aircraft, shortage on spare parts, and an air traffic control system that was not fully prepared for the strong growth,” the group said. These events resulted in irregularity costs more than doubling to GBP101m compared with 2017, the group said. Irregularity costs include EU-mandated passenger-compensation, welfare, sub-charter and denied-boarding costs. The group operates two airline brands: Thomas Cook Airlines (UK, Scandinavia and Balearics) and Condor (Germany). <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-12-07/unaligned/thomas-cook-posts-37-profit-growth-despite-disruptions
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Thomas Cook posts 37% profit growth despite disruptions
The airline division of Thomas Cook Group weathered summer European aviation disruptions to post a 37% profit growth to GBP129m (US$150m) for the financial year ended Sept 30. “The European aviation market was marked by disruption in summer 2018 caused by delays of the registration of new aircraft, shortage on spare parts, and an air traffic control system that was not fully prepared for the strong growth,” the group said. These events resulted in irregularity costs more than doubling to GBP101m compared with 2017, the group said. Irregularity costs include EU-mandated passenger-compensation, welfare, sub-charter and denied-boarding costs. The group operates two airline brands: Thomas Cook Airlines (UK, Scandinavia and Balearics) and Condor (Germany). <br/>
