InvestorQ : Why did Thomas Cook dip into a loss? Was that due to tepid travel industry?
Rutuja Nigam made post

Why did Thomas Cook dip into a loss? Was that due to tepid travel industry?

Answer
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rhea Babu answered.
3 months ago


No prices for guess but travel services were the worst hit and outfits like Thomas Cook India bore the brunt. Thomas Cook reported net loss of Rs.13.90 crore Mar-20 quarter on account of the pandemic effect. Even total income was nearly 22% lower at Rs.1109. For the full year, Thomas Cook reported net loss of Rs.17.65 crore.

The company top management confirmed that the pandemic had hit the travel industry the worst as flights were cancelled and global travel was under embargo. That meant that Thomas Cook lost out on the most lucrative first half of the year, which is when most of the travel takes place. However, the company has worked on cost optimization.