Thomas Cook predict demise of 15 companies

Friday 19th December 2008

Chief Executive of Thomas Cook, Manny Fontenia-Novoa has foreseen 15 UK travel companies folding in the next three months.

He claimed that many companies wouldn't be able to weather the current economic storm without the financial reserves of some of the larger travel firms, speaking at a press conference in London.

"If they can survive the next three months they will be okay, but these next three months are crucial,” he said.

He highlighted the precarious state of airlines in the prevailing economic conditions.

"There is no question it is a tough market,"he said. "But we at Thomas Cook are in pretty good shape going forward."