UK

Thomas Cook blame fake holiday sickness claims for 40% fall in UK profits

By Wednesday, 22 November 2017 14:03 0

THOMAS COOK has blamed fake holiday sickness claims and increased competition in Spain for its profits in the UK falling by 40 per cent.

The holiday firm said it was taking action to restore profitability after UK earnings fell by £34 million (€38.34 million) in its financial year to 30 September. It did however make £52 million (€58.63 million) in profits.

Thomas Cook also blamed a weaker pound and, like rivals, being forced to seek greater capacity in Spain due to terrorism fears in Egypt and Turkey.

Rising hotel prices, a surge in costs from fraudulent sickness claims and a massive bill supporting 10,000 customers caught in Hurricane Irma, which devastated parts of the Caribbean and the US are all believed to have contributed to the dive in profits. 

Comments (0)

There are no comments posted here yet

Leave your comments

Posting comment as a guest. Sign up or login to your account.
0 Characters
Attachments (0 / 3)
Share Your Location

Poll of the Week

Do you send online Christmas cards?

Create UK Alert

Do you want to be the first to receive our latest news from UK? Subscribe here.

Latest Tweets

From IFTTT
European Union dedicates Princess of Asturias Award to Portugal and Spain https://t.co/c0azqLbybY https://t.co/yMaxIxiqX1
From IFTTT
Two policemen killed by 'ex-soldier from eastern Europe' as fatal shootout shocks Spain https://t.co/e8L78ULiDq https://t.co/Ti67UZVS6i
From IFTTT
Ryanair to recognise pilot unions in the hope of avoiding Christmas strike https://t.co/GivHkchFhH https://t.co/kp9h3InmpS
Follow Euro Weekly News on Twitter

Post Gallery

LEO THE LION: Treasuring every moment…

Ryanair announce flight cancellations due to air traffic control strike in France

Family of four-year-old cancer boy issue urgent  appeal for help

EXCLUSIVE: Brit issues warning after being robbed in broad daylight in Costa Blanca

Axarquia council cat cull questioned

Police smash animal trafficking network in the Balearics

Icelandic airline to launch daily flights between Spain and UK

Spain's government challenges 'bloodless bullfighting' law

Spain celebrates glittering Michelin 2018 stars in restaurant awards