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Holiday firm's loss cut.

THOMAS Cook yesterday said it had cut losses by PS10m, despite the impact of Egypt's political turmoil on bookings in the quarter to December 31.

Revenues were PS15m lower at PS1.66bn, but chief executive Harriet Green said there had been further progress in the company's turnaround. She also announced the PS45m sale of Prestonbased Gold Medal - a supplier of long-haul flights, hotels and car hire - to Dubai travel company dnata, which is part of the Emirates Group.

The sale of the business, which employs around 470 people, means the company has met its target to raise between PS100m and PS150m from the sale of non-core businesses about 18 months ahead of schedule.

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Thomas Cook have announced a cut in losses
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Feb 12, 2014
Words:123
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