Tour operator Thomas Cook’s revenues fall sharply

German tour operator Thomas Cook’s ability to churn out revenues in its local market dropped dramatically in the now waning summertime season, admitted Detlef Altmann, member of the management board of Europe’s second-largest tour operator. In Mr. Altmann’s opinion, the company is enduring sale losses of nearly ten percent.

However, he’s confident that free fall could be offset by the end of the season and eventually remain below ten percent.

Mr. Altmann also indicated his company hopes to score a single-digit increase in revenues during the upcoming wintertime season. He refused to reveal specific figures, though.

For his part, Peter Fankhauser –another member of the group’s management board- pointed out tourism will continue to be a growing sector regardless of big slashes in occupancy that most major tour companies are doing right now.

According to Mr. Fankhauser, the group is to put up with such new challenges as having customers make on-the-run decisions about their vacations or tackling an increasingly bigger trend toward customized travel.

Thomas Cook –equally shared by Lufthansa and Germany-based wholesaler KarstadtQuelle- has already announced its intention to get rid of a fleet of 13 Boeing 757 aircraft in response to the fall in demand.

The leisure industry has been hit hard this year by ever-growing uncertainty in the market triggered in part by harsh economic crises in several countries, the war in Iraq and the SARS outbreak.

Thomas Cooks has a payroll of 28,000 employees all around the world. Its top markets are Germany –with 45 percent of overall sales- and Great Britain with 33 percent.