Thomas Cook sees weaker performance across continental Europe

Travel group Thomas Cook has said its full-year operating results should meet expectations despite reporting a loss in the first quarter.

The company posted a loss before tax of £135m ($169m) for the three months ended 31 December, compared to a loss of £116m in the same period a year earlier.

It said strong booking performance in the UK and northern Europe had been offset by weaker performance across continental Europe and the German airline Condor.

"We have delivered a solid performance for the first three months in line with our expectations, against a backdrop of continued uncertainty," Thomas Cook chief executive Peter Fankhauser said.

"We remain cautious about the rest of the year, given the uncertain political and economic outlook."

Thomas Cook has been hit by political unrest in the Middle East affecting its operations in Turkey.

The company said it had expanded its holiday offering to Greece and a number of smaller destinations in Europe to make up for the weak demand for Turkey.

UK bookings increased by 5% compared to last year, with online bookings up 20%.

Thomas Cook's revenue increased by 14% to £1.62bn.

It said its summer programme was now 31% sold, 2 percentage points higher than this time last year.