Thomas Cook enjoys summer success
Thomas Cook said a flurry of late bookings - particularly for breaks in Turkey and Egypt - helped it meet targets for summer trading.
The holiday giant sold 96% of its summer holidays, in line with 2008, while sales for the forthcoming winter season have also improved since August.
The comments are in line with those of First Choice rival TUI Travel, which on Tuesday highlighted the continued trend for later bookings.
Thomas Cook chief executive Manny Fontenla-Novoa said: "Summer trading is finishing in line with expectations underpinned by a strong lates market and the popularity of the package holiday."
The company sold 10% less summer breaks to UK customers than in 2008, as planned, with selling prices 8% higher.
Thomas Cook, which completes its financial year, said it was on course to achieve expectations for full-year profits. Analysts in the City predict the company will report a surplus of around £301 million.
Panmure Gordon stockbrokers added: "Thomas Cook has successfully managed supply in the face of weakening demand over the past 18 months.
"It retains the flexibility to adapt to further changes in demand, although significant cuts in capacity are unlikely."
In terms of the winter season, Thomas Cook has removed some lower margin, short-haul capacity, whilst benefiting from demand for medium haul trips.
It has increased average selling prices by 3% in the period and cut capacity by 9%. Whilst total bookings for the season are down 11%, the last four weeks has seen a drop of just 3%.
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