Thomas Cook's Royal Wedding escape plan

Recovery: having been hit hard by the north African unrest, Thomas Cook are hoping to capitalise on the Prince's wedding

11 April 2012

Holiday giant Thomas Cook is banking on an extra 100,000 unpatriotic holidaymakers fleeing the country to escape the Royal Wedding this year.

Chief executive Manny Fontenla-Novoa said the wedding, on the Friday after the Easter weekend, had sent bookings soaring and Cook has boosted capacity from 200,000 to 300,000 as people seize the chance for a getaway.

"A lot of people are bridging the gap and taking the three days as annual leave," he said.

The tour operator expects to take a £20 million hit from cancelled holidays following political unrest in Tunisia and Egypt, but Fontenla-Novoa said summer bookings to Egypt were already flagging before the current crisis due to hikes in air passenger duty, dropping 25%.

Despite the turmoil, first-quarter revenues were up 7% to £1.8 billion and seasonal losses down 10%. Shares gained 3.9p to 197.4p or 2%.