Thomas Cook says Brits are brushing off Brexit and still going abroad

Flying high: Thomas Cook shares edged up after the holiday giant revealed Britons booked more trips this year
Darren Staples/Reuters
Lucy Tobin27 September 2016

Brits brushed off fears of a Brexit-fuelled armageddon and flocked to foreign holidays this summer, according to Thomas Cook.

The travel agent and airline — which issued a profit warning in July — saw Britons book 1% more trips this summer than last, with the Balearics, US and Canary Islands most popular. That came despite concerns that the pound’s post-Brexit devaluation would lower British appetite to travel abroad.

Bookings from the UK were up 13% when stripping out last year’s breaks to Turkey, which terrorism and a failed coup has turned into a no-go zone for travellers.

British travellers have booked 7% more winter breaks this year compared with the same time a year earlier.

Although demand is lower in Cook’s other major market, Germany, it stuck to its annual profit guidance of £300 million for the year to October.

Peter Fankhauser, chief executive of Thomas Cook said: "We remain focused on ensuring that we have the right holidays available in the most popular destinations in order to meet changes in customer demand."

Shares inched up 0.2p to 70.3p.

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