Live updates

Thomas Cook reveals profits for first time in five years

Making a profit

Beleaguered holiday firm Thomas Cook - heavily criticised following the deaths of two children from Wakefield on a holiday in Corfu - has posted its first annual bottom line profit for five years.

This is despite a £130 million sales hit from the Tunisian beach and hotel terrorist attacks in June.

The group said it had been a year of "considerable challenges" after coming under fire for its handling of the deaths of Bobby and Christ Shepherd. They died after being overcome from fumes from a faulty boiler at their holiday home on Corfu.

Christi and Bobby Shepherd

Chief executive Peter Fankhauser said the group had "confronted its mistakes" following the deaths of the children.

Thomas Cook posted profits after tax of £19 million - its first positive profit after tax since 2010 - while underlying earnings rose 11% to £310 million. But it said the suspension of holidays to Tunisia cost the group £130 million in sales, with underlying earnings impacted by around £22 million.

The group said the new financial year had got off to a good start despite cancelling its flights to Sharm-El-Sheikh in Egypt after the downing of a Russian passenger plane last month, while Tunisia holidays also remain suspended for most markets.

  1. National

Thomas Cook restructure will 'transform operations'

Thomas Cook has entered a 90-consultation with some of its UK employees on a three-year programme to "transform its operations".

The consultation will consider plans to:

  • Close 195 high street stores, whilst retaining 874 outlets on British high streets
  • Place a number of administrative and managerial roles at risk, at Head Offices in Peterborough and Preston, whilst proposing the closure of its Accrington office
  • Change some terms and conditions in order to make further efficiencies, thereby safeguarding additional roles
  • Thomas Cook currently employees 15,500 people in the UK and it is anticipated that approximately 2,500 full-time roles will go if the proposed changes go ahead.


Thomas Cook chief executive's statement on job cuts

As part of the previously announced UK turnaround, we have regrettably today advised colleagues in our Bradford office that we're proposing to close it by March next year, relocating some roles to our other UK sites in Birkenshaw (near Bradford), Peterborough and Falkirk.

We've made a commitment to improve the profitability of the UK business and today's announcement is part of this, but what is also key to these proposed changes is the improved service level that will result for our customers.

– Ian Ailles, chief executive Mainstream at Thomas Cook UK & Ireland,


Travel expert reacts to Thomas Cook news

Travel expert Sandra Murray has been reacting to the news of job losses.

I'm devastated by the news it's a real surprise. Can't believe they're doing this as the Bradford site has been open for ages. It's awful for the people who work there. The staff have always been loyal, I'm just really sorry to hear the news and my thoughts go out to those affected."

– Sandra Murray - travel expert in Wakefield

Reaction to job losses at Thomas Cook in Bradford

Speaking to Calendar within the last few minutes, Yorkshire travel writer David Hoyle has been reacting to the news of job losses at Thomas Cook in Bradford.

This is a sad day for West Yorkshire and the travel industry but sadly a sign of the times, I'd say all the people working there should keep their heads up- quality people will survive and hopefully they'll find redeployment within the firm. There are opportunities out there and the travel industry is not shrinking - just changing."

– David Hoyle - travel expert

BREAKING: Thomas Cook cut 468 jobs in Bradford

Jobs to go in Bradford

Hundreds of jobs at Thomas Cook in Bradford are to be lost after the travel company announced it is closing its call centre in the city by March next year.

537 people work at the Godwin Street site. 69 positions are going to be created in Birkenshaw, but that will leave 468 redundancies. A further 244 positions will be created at other sites around the country, which those affected can apply for.