UPDATE 2-Return of tourists to Turkey helps Thomas Cook offset Spanish costs [Reuters]
Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares (RYAAY)
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Source: Reuters
Return of tourists to Turkey helps Thomas Cook offset Spanish costs | Reuters 3 Min Read LONDON (Reuters) - Recovering demand for holidays to Turkey will help offset the impact of rising costs in Spain, British travel company Thomas Cook ( TCG.L ) said on Thursday, leaving it on course to meet annual profit forecasts. Turkey is the “standout” destination for this summer, Chief Executive Peter Fankhauser said on Thursday, as demand for holidays there returns after two years of tourists staying away over security concerns. A pick up in demand for trips to Turkey is good news for Thomas Cook as it makes a higher profit margin on holidays there than to Spain, its biggest destination, where a price war among tour operators has coincided with hotels raising prices. The company noted “significant” margin pressure on holidays to Spain, reiterating what it said in November, but knocking its shares around 3 percent lower. “We see that Spain is getting again in this summer more expensive compa
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