Thomas Cook reports 1QFY2010 financial results

"We are pleased to report a £30.5 million reduction in seasonal loss before tax for the first quarter, as a result of lower exceptionals and finance charges. The operating loss before exceptional items of £41.3 million was £13.9 million higher than the prior year, mainly as a result of planned capacity reductions. The full year results are underpinned by our strong summer programme weighted towards higher margin, medium haul destinations. As a result of this and our cost reduction plans, we are confident that the Group will perform in line with Board expectations.