Travel insurance needed as package holidays regain popularity
Wed, 08 Mar 2006
The growing popularity of purchasing traditional package holidays via travel agents is likely to boost the need for travel insurance cover.
Major travel operator Thomas Cook has reported a profit for the first time in four years as it benefits from a rise in customers.
The company has revealed a net profit of €105.4 million (£72 million) for the year to 31 October, compared with a loss of €176.4 million euros in the previous year.
In total, Thomas Cook took 13.2 million people on holiday last year, with the average trip costing €515 (£350).
"All key segments have improved their income position and are reporting profits," said Thomas Cook finance chief Ludger Heuberg.
He added: "Thomas Cook UK and Ireland achieved the best level of profitability, while German airline Condor recorded the biggest improvement in earnings."
The high-street travel operators have faced increasing competition from low-cost budget travel options and online rivals. However, these latest results suggest that holidaymakers are keen to adopt a "one-stop" approach to purchasing their package holiday and travel insurance needs. 
© Adfero Ltd
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