Thomas Cook released (26-Sep-2013) its pre-close trading update and said its FY2013 results are expected to be in line with market expectations. The company said its summer trading continues to be in line with expectations and is now over 95% sold. Across the Group as a whole, bookings outperformed planned capacity management by over 4%. The company's UK capacity is over 97% sold with bookings down 3% on 2012 with a capacity reduction of 2.5%. The company expects the UK will match its expectations with a year-on-year increase in average sales prices of over 4.5%. The company's Continental Europe bookings are flat year-on-year despite capacity reductions of approximately 10% with average sales prices increasing by 1%. Capacity left to sell is 15% lower year-on-year. Northern Europe bookings are 1% below 2012 but with growth in average selling prices of approximately 4%. German bookings and average selling prices are both up around 3% compared to 2012. Thomas Cook plans to announce its results for the year ended 30-Sep-2013 on 28-Nov-2013. [more - original PR]
Thomas Cook: Pre-close trading update: Sep-2013
You may also be interested in the following articles...
Europe Fleet Outlook
Europe Fleet Outlook: Long haul strategies account for much narrowbody and widebody newgen fleet orders.
SunExpress: "Lufthansa's biggest strategic project"
The Turkish leisure airline SunExpress and its German subsidiary SunExpress Germany have historically had a fairly low profile, certainly among European air travellers. Nevertheless, their combined total of 7.9 million passengers puts SunExpress in the top 20 European airline groups in 2016, ahead of Brussels Airlines.
Jointly owned by Turkish Airlines and Lufthansa, SunExpress and its German counterpart brought about a consolidated result that fell into loss in 2016 as passenger numbers and revenue both declined. When the observer scratches beneath the surface of the headline figures, a picture of significant strategic change at SunExpress Germany starts to emerge.
The larger Turkish SunExpress has maintained its focus on Turkey-Germany routes, whereas SunExpress Germany has abandoned this country pair. It has instead developed leisure routes from Germany to elsewhere in Europe and in North Africa, in spite of not having an obvious competitive advantage in those markets. Within these new market areas, SunExpress Germany has undergone substantial changes in its route portfolio. Lufthansa wetleases capacity from SunExpress Germany for its Eurowings low cost operation and this may help to make some sense of these outwardly random network changes.