Thomas Cook has cut its losses by £10m

Thomas Cook yesterday said it had cut losses by £10m, despite the impact of Egypt’s political turmoil on bookings in the quarter to December 31

Thomas Cook
Thomas Cook

Thomas Cook yesterday said it had cut losses by £10m, despite the impact of Egypt’s political turmoil on bookings in the quarter to December 31.

Revenues were £15m lower at £1.66bn, but chief executive Harriet Green said there had been further progress in the company’s turnaround.

She also announced the £45m sale of Preston-based Gold Medal – a supplier of long-haul flights, hotels and car hire – to Dubai travel company data, 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 £100m and £150m from the sale of non-core businesses about 18 months ahead of schedule.

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