Thomas Cook losing £7m a day from airspace closure

19th Apr 2010 16:27

Tour operator Thomas Cook says that the volcanic ash cloud from Iceland is losing it £7m a day. The closure of airports and airspace has disrupted the firm's flight and holiday programme. The precise financial impact is difficult to calculate but the lost contribution and additional costs are estimated to be around £7m a day. The company says: "For those due to depart alternative holidays are being offered; a large number of our holiday makers are choosing to rebook. The group is working with the relevant national bodies and international authorities to understand the likely further impact on the Group's flying schedules and mitigate the impact on the travel industry."There are spare borrowing facilities of around £400m so Thomas Cook will be able to weather the current problems.