Monday 11 November 2019 6:16 pm

Easyjet prepares to take more Thomas Cook market share via package holiday business

Easyjet is gearing up to reveal the details of its upcoming package holiday subsidiary, as the industry scrambles to fill the gap in the market left after the collapse of Thomas Cook.

The low cost carrier, which reports its full-year financial results next week, will relaunch the package holiday business, Easyjet Holidays, before Christmas, but has so far given few details.

Read more: What Thomas Cook’s collapse tells us about the power of disruption

But it is said to be planning to give more away to the public next week, according to the Times, as chief executive Johan Lundgren’s two-year ambition to move into the package holiday business at the firm inches closer to becoming a reality.

Lundgren is a former executive at Tui, which is a major player in the space.

Lundgren believes a package holiday business would bolster the airline’s otherwise underwhelming recent financial results.

Analysts expect the carrier to report a pre-tax profit drop of at least three per cent next week.

Last week, Easyjet bought Thomas Cook’s take-off and landing slots at London Gatwick and Bristol airports for £36m. 

Read more: Thomas Cook collapse: MPs slam government inaction

The company announced it had bought 12 summer slot pairs and eight winter slot pairs at Gatwick and six summer slot pairs and one winter slot pair at Bristol, in the first sale of Thomas Cook’s slot portfolio since the travel agent failed in September. 

The UK business and airline of Thomas Cook entered immediate insolvency two months ago, leaving thousands of passengers stranded abroad.