Thomas Cook Airlines

British travel company Thomas Cook Group said its annual profit would come in at the lower end of expectations after hot summer weather in Europe affected late holiday bookings.

Thomas Cook is abandoning its raucous "Club 18-30" brand to target an image-conscious audience wanting more stylish holidays, the British tour operator said on Thursday.

Thomas Cook, set up in 1841 and a pioneer of package holidays, said demand for holidays in Turkey, Greece and Egypt would help it meet forecasts this year.

Europe’s largest travel group TUI said summer bookings for Turkey were recovering, echoing comments by rival Thomas Cook and adding to hopes that pressure on profit margins for tour operators may ease.

Turkey is becoming one of the top destinations for British holidaymakers, according to the United Kingdom’s giant tour operator Thomas Cook.

Travel firm Thomas Cook reported an 8 percent rise in full year earnings, helped by a turnaround of its German airline Condor and improved customer demand, adding that bookings for Turkey and Egypt in summer 2018 were already very strong.

“Greece was a destination in the Mediterranean that stood out this summer. Thomas Cook’s bookings for Greek destinations rose 24% in the summer of 2017 compared to the summer of 2016”, said Martin Ratchford, from the tour operator Thomas Cook’s financial team

Revenues at Thomas Cook rose 3 percent thanks to strong demand for winter holidays in Greece and long-haul destinations, the tour operator said on Thursday while describing the country as a "standout" destination for this summer.

Foreign holidays remain a top priority for Europeans despite economic and security worries, tour operator Thomas Cook said on March 28, reporting a 40 percent jump in bookings to Greece and signs of a recovery in travel to Turkey and Egypt.

"Customers' appetite to go abroad on holiday this summer is good across all our markets," CEO Peter Fankhauser said.

Germany's major tour operators are reporting an increase in bookings for holidays in Greece this year.

Data from Thomas Cook's German subsidiary point to a rise of more than 40 percent on last year, while demand for Greek vacations by TUI customers has grown 41 percent year-on-year, according to the online edition of the fvw journal.

British travel group Thomas Cook said on Feb. 9 that demand for holidays in Egypt is picking up again, after unrest in the North African nation had pushed holidaymakers into choosing rival sun spots.