Thomas Cook goes £26m into the red

Thomas Cook plunged to a loss for the last three months of £26.5 million, compared with a profit of £20.1 million for the same period a year earlier.

It has been hit by “challenging” trading, but sales in recent weeks have improved as Britons look to escape to the sun after weeks of miserable weather. Its revenues for the three months were down by 6% from a year ago.