Thomas Cook’s latest results suggest its summer 2009 stock sold out and winter trading is picking up.

The group said 2009 trading was in line with expectations and that 2010 should also meet expectations, according to its January-September 2009 statement.

As experienced in last year's summer, load factors on its aircraft were 96% while UK bookings were down 10%. This compares with minus 12% in continental Europe and minus 3% in northern Europe.

Pricing was up 8% in the UK, flat in continental Europe and plus 3% in northern Europe.

While winter bookings have strengthened significantly in the last month they are still down 11% in the UK.

Summer 2010 is 11% sold with prices and margins said to be ahead of last year.

The group is not planning to cut capacity further and said that the later booking trend was continuing.

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