One might have expected Thomas Cook (TCG) to paint much the same picture of trading as its rival TUI Travel (TT.), which this month reported buoyant demand from British holidaymakers. On the contrary, Thomas Cook said its UK business was harmed by ongoing political tension in Egypt. Instead continental Europe, specifically Germany, performed slightly better.
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Chief executive Harriet Green said far fewer UK customers chose to travel to Egypt over the winter as a result of the country's political problems. But next year should be better. The release of multiple new products into the UK market, no doubt combined with the early effects of the recovery in real earnings, has so far driven early winter bookings for 2014/15 11 per cent higher.