LONDON -- Thomas Cook
Despite consumers being under pressure, it appears many were disheartened by the gloomy weather that dominated the summer in Northern Europe and decided to set out for some sunshine on foreign soil. While total capacity available was reduced as Thomas Cook sells off assets to pay down its 1 billion pound net debt position, bookings were better than expected in several markets, including the U.K. and Western Europe.
These are positive developments for Thomas Cook, but there can be little doubt that the headlines surrounding the company's troubles scared some potential customers into the arms of competitor TUI Travel
For investors looking for exposure to the travel sector, TUI may be a better bet; an improving consumer environment should lift both companies, but TUI will pay you a 4.8% dividend while we wait for those sunny days.
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