NEWS
dates back to the 11th century, before the gala dinner at
weekend. The entertainment was hosted at the Alcázar of Jerez de la Frontera, which
Sancti Petri hotel near Cadiz, and marked Advantage’s 40th year in business.
Bodega Gonzalez Byass. It was the finale to the annual conference, which this year was held at the Valentín
› Conference report, page 10
Industry rallies to support Cook after £1.45bn loss
Amie Keeley
Agents have vowed to support Tomas Cook aſter the travel giant posted unexpectedly large losses that caused its share price to plummet and heightened fears of a collapse. Many said it would be
“devastating” for the industry if Cook went under, and have responded by promoting Cook holidays and reassuring customers. John Hays, founder and managing
director of Hays Travel and its 180 shops, said: “I very much want Cook to survive. We supported them when they had a near-death experience in 2012 and we will continue to support them. “If they cease to exist, it would have
a major impact on our entire industry.” Julia Lo Bue-Said, managing director
travelweekly.co.uk
of Te Advantage Travel Partnership, said it is “business as usual”. “We’ve worked with Cook a long
STORY TOP
time,” she said. “Tey are a strong brand and will hopefully work things out. I’ve not seen any change in behaviour from members’ customers – in fact, we saw no change in last week’s trading
[following Cook’s results]. “Some members are promot-
ing Cook locally and we will do every-
thing we can do to support them.” Cook’s future was called into
question aſter its headline half-year losses soared to £1.45 billion to the end of March as a consequence of a £1.1 billion write-down of the MyTravel business it merged with in 2007. Its shares briefly fell to 10p but
were trading at 12p on Tuesday as Travel Weekly went to press.
It would be a
crying shame if Thomas Cook went. It would make everyone’s life harder
Other agents rallied to support
Cook. Garstang Travel restocked its racks with Cook brochures in a show of support. Director Nicole Eaves said: “If [Cook] disappeared, the devastation would be unbelievable, not just in terms of job losses, but the whole industry could go into turmoil. “We always offer customers a
choice of operators, but Cook will be at the forefront of our minds. We’ve got to stick together.” Shelly Taylor, owner of Taylor
Travel in Prestatyn, Wales, said the agency did not sell many Cook holidays aſter it scrapped price parity in December, but a number of customers who booked last year for this summer had called in concern. “Tey were having a bit of a panic,
asking if their holiday is going ahead. I told them they are going ahead and there are no cancellations,” she said. “It would be a crying shame
if [Cook] went. It would make everyone’s life harder.” Cook put its airline up for sale
in February. If a sale goes through, a £300 million credit facility would become available from October. A Cook spokesman said: “We
have ample resources to operate and our liquidity position continues to
strengthen into the summer period.” › Business, back page
23 MAY 2019 5
Delegates enjoy a display of dancing horses, courtesy of the Spanish Tourist Office, ahead of a gala dinner at The Advantage Travel Partnership’s annual conference in Andalusia last
HOT TO TROT:
PICTURES: Nick Robb
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