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Thomas Cook shares soar as sun shines on travel firm

Shares in Thomas Cook soared in trading on Thursday after the British travel firm announced a large reduction in annual losses as a result of deep cost-cutting. Thomas Cook's share price rocketed 12.64 percent to stand at 172.56 pence in morning trade on London's second tier FTSE 250 index, which was up only slightly. The surge came after Thomas Cook said net losses dropped to £199 million ($324 million, 239 million euros) in the year to the end of September from £585.7 million in 2011/12.

Thomas Cook ramps up targets as overhaul yields profit leap

By Rhys Jones LONDON (Reuters) - Thomas Cook <TCG.L> raised its revenue and cost-cutting targets in the latest stage of a profit-boosting turnaround at the world's oldest travel firm, sending its shares to a near three-year high. The tour operator is recovering from a dramatic slump over the past three years, hit by the euro zone debt crisis, high fuel costs and political turmoil in popular holiday destinations such as Greece, Egypt and Tunisia.

Thomas Cook axes 2,500 jobs in Britain

Travel firm Thomas Cook said Wednesday that it will axe 2,500 jobs in Britain, mostly in administration functions and its retail network, as part of a major restructuring. The cuts comprise 16 percent of the group's total workforce of 15,500 people in Britain and Ireland. "As part of its ongoing business transformation, Thomas Cook Group plc today began a consultation process to restructure its UK business," the British company said in a statement.

Thomas Cook says to keep troubled French travel unit

Travel firm Thomas Cook on Monday said it had decided against selling its French unit following a review of the loss-making division, adding that it would implement changes aimed at making it profitable. "We have now concluded the review of Thomas Cook's French business and following this process we have taken the decision to retain the business within the group and implement a specific transformation programme for France to improve performance," the British company said in a statement.

Third Briton dies after Egypt balloon crash: tour operator

A third British tourist has died after a hot air balloon exploded in the Egyptian city of Luxor on Tuesday, killing up to 19 people, tour operator Thomas Cook said. The latest victim died after being taken to a local hospital for treatment to injuries. A fourth Briton was hurt in the accident and is receiving treatment in hospital. "We can confirm that a third Thomas Cook guest (one of the two originally reported as injured) has now sadly died," the tour operator said in a statement. A spokesman confirmed that all four Britons involved had flown to Egypt from Britain.
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