Thomas Cook sees 'volatile' travel market

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Thomas Cook has said it continues to see a "volatile market environment", with customers shunning potential trouble spots and taking longer to make up their minds.

The travel firm reported increased demand for Spanish destinations, having taken "early actions" to move flights away from Turkey, Tunisia and Egypt.

It had also sold more long-haul trips to places such as the US and Cuba.

The firm added that it was confident of delivering "improved results".

In its latest trading statement, Thomas Cook said the winter session was finishing as expected, with 90% of its programme sold, 2% lower than at the same point in 2015.

Average prices had increased by 2%, while total bookings were 3% lower than last year.

The summer 2016 season was 40% sold, "with bookings below last year as we continue to prioritise margins over volumes".

Chief executive Peter Fankhauser said: "Thomas Cook continues to operate in a volatile market environment. We know that customers want a summer holiday, but we can see that some are leaving it later to book this year as they consider their options."