Thomas Cook sees losses widen on higher fuel costs

Struggling travel group Thomas Cook has reported widening annual losses due to reduced capacity and higher fuel costs.

Pre-tax losses for the year to the end of September were £485.3m, up from £398.2m the previous year.

Revenue fell to £9.5bn from £9.8bn in what the company described as a "difficult trading environment".

Despite the loss, the company said the final quarter had been a "major improvement" on a year ago and added it was "optimistic about the future".

Julia Caesar reports.