Package holiday firm On the Beach said the Thomas Cook collapse has created an “unprecedented opportunity” for it to increase its market share.
The Manchester-based firm, which has a 20 per cent share of online sales in the short-haul beach holiday market, announced it would increase its online and offline marketing spend to attract new customers.
In a full-year trading update for the 12 months to September 30, the firm said it is “well positioned” across its channels, which includes onthebeach.co.uk, sunshine.co.uk, Classic Collection and Classic Package Holidays.
said the liquidation of Thomas Cook has had “significant impact” on the package travel industry.
Simon Cooper, CEO of On the Beach Group, said: “On the Beach has an exciting opportunity to significantly increase its market share over the short to medium term by leveraging its strong brand and core capabilities.
“I would like to thank all teams across the business for their exceptional response following the compulsory liquidation of Thomas Cook in ensuring that customers were either re-booked or refunded in the shortest possible time while maintaining our high quality customer experience standards.”
Share prices had risen 2.56 per cent this morning, from 436.80p at last close yesterday to 448p.
The firm said it will give a further update in its preliminary results, due to be published on November 27.
