While first-quarter results from troubled tour operator Thomas Cook were poor - losses ballooned from £37m to £91m - things certainly could have been worse.
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News of a strong three-month performance in the UK from rival TUI, ahead of the update from Cook, fuelled concerns that Cook's well-publicised financial problems may have seriously hit bookings. But, in the event, the 11 per cent slide in UK mainstream bookings was pretty much as expected. A 19 per cent fall in West and East Europe bookings, which continue to be hit by ongoing political unrest in North Africa and the Middle East, was the other major black spot for the group.
