Thomas Cook braced for major loss of revenue
Travel operator Thomas Cook has warned of a £39m earnings hit from the combined impact of the terrorist atrocity in Tunisia, the Greek debt crisis and the weakening of the euro.
The attack, which last month claimed the lives of 38 holidaymakers, including 30 UK nationals, is expected to have a £20m impact on the company's full-year results with a further effect possible next year.
Thomas Cook said this took into account the impact of cancelled trips, rearranging the summer flying programme to alternative destinations and the cost of repatriating customers to the UK.
The group sells 600-700,000 holidays to the North African country every year, but has seen this wiped out as the Foreign Office and other governments in Europe officially advised against travelling there.
Chief executive Peter Fankhauser said: "Our business has been impacted by significant external shocks."