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Thomas Cook is raising its prices

9th Feb 17 1:51 pm

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Thomas Cook is raising its prices this year, it will cost on average 9 per cent more to fly away on holiday this summer.

The company has blamed more competition within the market for the rising fees.

The news comes just as Thomas Cook announced a loss of £49.1m in the first quarter.

The firm said it was “cautious” about 2017, shares fell by 10 per cent in morning trade.

Thomas Cook has a total of 6 million customers in the UK, it said there was a higher demand for Spanish holidays last year, fewer tourists visited places such as Turkey, Egypt and Tunisia after a number of terror attacks.

Due to this, Spanish hotels have raised prices by as much as eight per cent, these are costs that Thomas Cook had to take into account.

The company said: “In this context, and consistent with our strategy, we have taken a deliberate decision to focus on higher margin, quality holidays, rather than chase volume growth,”

Even though the company saw a loss, the firm has said revenue climbed one per cent to £1.6bn.

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