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Thomas Cook to reduce reliance on mainstream packages
Independent travel and cruise are set to become larger parts of Thomas Cook Group business over the next few years.
The proportion of revenues from mainstream package holiday sales is forecast to reduce from 80% in 2007 to 70% in 2009-10.
Meanwhile, chief executive Manny Fontenla-Novoa did not rule out ownership or part ownership of a cruise company, although not in the near future.
He described the merged Thomas Cook-Airtours group as being in a strong position to further grow its cruise business, having secured a high level of retail and online distribution.
Fontenla-Novoa said the group would evaluate further opportunities in the sector as they arose.
He disclosed that former Kuoni UK managing director Sue Biggs would be overseeing growth in the independent travel sales as part of her remit when she joins the group in the summer.
The company wants to secure a larger proportion of independent travel business without the burden of owning either a low cost airline or hotels, according to Fontenla-Novoa.
Overall revenues from independent travel is expected to rise as a proportion of the total from 18% in 2005-06 to a quarter of total group revenue by 2009-10.
Fontenla-Novoa also said Thomas Cook was now the lead brand in the organisation for summer 2008, accounting for 37% of sales, up seven percentage points.
by Phil Davies
Phil Davies
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