potinsnews.com
potinsnews.com March 25, 2017


Thomas Cook Tourists Turn to Bulgaria, Croatia Amid Terror Spree

11 February 2017, 12:34 | Chelsea Hernandez

Almost a third of votes at Thomas Cook’s AGM were cast against the long-term incentive scheme for executives Getty Images AFP

Almost a third of votes at Thomas Cook’s AGM were cast against the long-term incentive scheme for executives Getty Images  AFP

Security issues continued to hamper demand for holidays in Turkey, while Britain's vote to leave the European Union, which has depressed the value of sterling, had also reduced clarity about the rest of the year.

The group said United Kingdom bookings for this year's key summer season were largely flat - up one per cent overall - as it comes under pressure from rivals in the Spanish island market.

It said it was seeing strong demand for holidays to Greece, with bookings up 40% as it has boosted its offering to the country as part on a switch away from Turkey and Egypt after political instability and terrorist attacks.

Shareholders with Peterborough-based Thomas Cook have secured a promise from bosses to consult over a new pay incentive scheme for its chief executive.

Revenue in the three months to the end of December was up 1% to £1.6bn but seasonal underlying operating losses were only improved by £1m to £49m.

Greece was now its "stand-out" destination, with 2.5 million holidaymakers booked for this summer.

British government says will not allow lawmakers to block Brexit
Parliament will get to vote on the final Brexit deal before it goes before the European Parliament, the Government has conceded. Shadow Brexit secretary Keir Starmer said this was a " huge and very important concession " by the government.

OK man attempts to trade vodka for Girl Scout cookies
Her daughter, Carson, 18, is a top cookie seller who has earned rewards including an iPad, a computer and a trip to NY . Schumacher was talking about the chocolate-covered cookie, but the sandwich cookie is also getting good reviews.

Outpost bill heading for final vote in the Knesset
Saeb Erekat said, adding that "the Israeli settlement enterprise negates peace and the possibility of the two-state solution". Over 40 families were forced from their homes, putting pressure on the government to respond.

Overall bookings for next summer are up 9 percent on this time previous year, with prices stable and 31 percent of the program sold, an increase of 2 percentage points, Thomas Cook said. "In the smaller destinations like Croatia, like Bulgaria, like Cyprus, we are very well positioned and we see very good growth there".

While summer sales in northern and continental Europe are well ahead of a year ago, United Kingdom demand may be moderating, with bookings up 1 percent and package holiday reservations "slightly behind".

Thomas Cook shares fell by up to 10%.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: " Times are tough in the European travel industry and Thomas Cook isn't having the best of it, though the good news is things don't seem to be getting any worse".

The results came hours before Thomas Cook's annual general meeting at which Mr Fankhauser was expected to come under pressure over his pay package - a year after the last AGM saw a quarter of investors stage a revolt.

There was also a vote of about 20 per cent against the remuneration report as investors voiced concerns over the performance criteria for a strategic share incentive plan (SSIP) under which Peter Fankhauser, its chief executive, could be paid up to 225 per cent of his salary, now £690,000.



Other News

Trending Now

About time: 9 reasons to be excited about Android Wear 2.0
Geekbench also lists the LG Watch Sport with 768 MB of RAM, which should be more than enough for smartwatch functionality. Since there is a cellular radio in the Sport you'll be able to share your mobile number across the watch and your phone.

Veteran goalkeeper sends Egypt into final
They have defended with discipline and in goalkeeper Fabrice Ondoa Cameroon have one of the players of the tournament. We respect all the national teams and that's our main trait.

In Korea, Mattis vows 'effective and overwhelming' nuclear response
Defense Secretary James Mattis said in Tokyo Friday the U.S. stands "firmly, 100 percent, shoulder to shoulder" with Japan. Chinese analysts said China was alarmed by the mention of the disputed Diaoyu Islands in the talks.

Smokeless tobacco recalled over sharp metal objects in cans
The FDA says the company initiated the recall after getting eight consumer complaints about the metal objects in six states. Anyone who already purchased one of the affected products is urged not to open or use the can or its contents.

Comcast Launches Xfinity TV App Beta for Roku Devices
As spotted by Variety , a Comcast support page notes that charges will be put into place at the conclusion of the beta. What it lacks, however, is the ability to rent or purchase content, and play a customer's previously bought content.

White House Issues Unprecedented Warning to Iran
A defense official said the missile test ended with a "failed" re-entry into the earth's atmosphere. The UN Security Council met on Tuesday to review the matter and confirmed that the test occurred.

20-year-old man arrested in murder of Karina Vetrano, police confirm
The medical examiner determined that her death was a homicide, finding that Vetrano had been strangled and sexually assaulted. Police said it does not seem Lewis knew Vetrano and that her death resulted from a chance encounter.

White House blasts questioning of Yemen raid as 'disrespectful'
The Pentagon acknowledged that several civilians died in the attack on a vilage in central Yemen, though it is unsure how many . Another three US forces were wounded in the "hard landing" of an MV-22 Osprey aircraft at a staging area for the mission.

Netflix's 'The OA' Returning for Season Two?
We have not heard when exactly the series will return for a second season, but it will likely be later this year. She comes back changed: she had been blind, but her sight has been restored, and she now calls herself The OA.

Parker Injured As Bucks Lose
And the news that many feared for the former #2 pick in the 2014 NBA Draft is now real: he has another torn ACL. Parker played almost all of his sophomore season, suiting up for 76 games after recovering from the torn ACL.