Cook's recovery hits stumbling block after payouts and competition
THOMAS Cook's long–haul recovery from near collapse in 2011 hit turbulence amid competition in the airline market and payouts to passengers on delayed flights.
Cheaper fuel benefits and a cost–cutting drive were offset by lower holiday prices and extra compensation paid out after a court ruling that required airlines to include mechanical delays.
Cook's like–for–like revenue climbed 1.6 per cent to £1.5billion in the three months to December, with gross profit flat at £327million.
It has seen a big rise in bookings by UK travellers but tougher trading in Europe. Shares fell 7¼p to 126p.
