Thomas Cook India Expects Higher Travel Bookings in FY28

Thomas Cook (India) is expecting passenger numbers and travel bookings to increase in the financial year 2028 as demand for travel begins to recover, despite a challenging business environment in the current financial year. However, the travel company has delayed the launch of its European summer holiday packages by several weeks, citing unrest, transport disruptions and extreme weather-related uncertainty across parts of Europe.

Managing Director and Chief Executive Officer Mahesh Iyer said the company now expects to introduce its Europe summer packages in the second or third week of November 2026, rather than the usual mid-October period. The delay reflects uncertainty surrounding travel conditions and holiday planning for 2027.

The outlook comes after Thomas Cook India reported lower revenue and profit for the first half of the financial year. While the company faced pressure from travel disruptions and a difficult operating environment, management said demand had started recovering in the ongoing third quarter, offering some encouragement for the second half.

Why Thomas Cook India Delayed Its Europe Summer Holiday Launch

Thomas Cook India usually launches its European summer holiday packages around the middle of October. This year, however, the company has pushed back the rollout by a few weeks because of uncertainty surrounding conditions in Europe.

Recent protests have disrupted transport services and affected access to tourist attractions in parts of the region. At the same time, concerns about extreme heat and changing weather conditions have made it more difficult for travellers and tour operators to plan summer holidays for 2027.

Mahesh Iyer said the company expects to launch the packages in the second or third week of November. The revised schedule gives the company additional time to assess the situation before presenting its summer travel options to Indian customers.

The decision does not indicate that Thomas Cook has abandoned its European summer programme. Instead, the company is adjusting its launch schedule amid uncertainty over travel conditions and customer planning.

Europe remains an important international holiday destination for Indian travellers. According to government data cited in the report, Indian nationals made approximately four million departures to Europe in 2025. That represented around 12% of India’s total outbound travel and marked a 3% increase compared with the previous year.

The scale of Indian travel to Europe helps explain why disruptions in the region matter to travel companies. Changes in transport availability, local conditions and weather expectations can influence when customers book, which destinations they choose and how tour operators plan their packages.

European Winter Holiday Bookings Remain Strong

Despite the uncertainty surrounding summer travel, Thomas Cook India is seeing strong demand for European winter holidays. Iyer said winter bookings were looking very strong, suggesting that customers were not excessively concerned about the disruptions affecting parts of the region.

The company also indicated that changes in international air travel following the outbreak of the Middle East conflict had shifted some travel demand towards the winter season.

Air travel restrictions and disruptions can affect holiday schedules, particularly when travellers need to adjust their departure dates or reconsider their preferred destinations. In this case, some demand that might otherwise have been spread across earlier travel periods has moved into winter bookings.

Strong winter demand provides a positive signal for Thomas Cook India as it navigates uncertainty in the international travel market. However, the strength of bookings for one season does not necessarily remove the risks surrounding summer travel or guarantee a similar performance across all destinations.

Thomas Cook India’s Revenue Falls 10% in First Half

The company’s positive outlook for future bookings comes after a weaker financial performance during the first six months of the financial year ended September 30, 2026.

Thomas Cook India’s revenue declined 10% to Rs 40.36 billion during the period, compared with Rs 44.82 billion in the corresponding period of the previous year. Profit after tax fell 20% to Rs 1.17 billion.

The performance reflected a difficult operating environment for the company, with travel demand affected by disruptions, including those associated with the conflict in the Middle East.

The decline in revenue and profit highlights the financial impact that international uncertainty can have on travel businesses. Travel companies depend on customers being able to plan holidays, secure flights and travel with reasonable confidence. Disruptions can lead to postponed bookings, changes in itineraries and shifts in demand between destinations or seasons.

However, the company has indicated that conditions began improving during the third quarter. The recovery in travel demand has contributed to management’s expectation that the second half of the current financial year could perform better than the first.

CEO Expects Second-Half Performance to Match or Exceed First Half

Mahesh Iyer expressed confidence that Thomas Cook India’s performance could improve during the second half of the financial year. He expects the period to be at least equivalent to or better than the first six months, provided the operating environment does not deteriorate significantly.

The company’s travel business is not the only contributor to its financial performance. Its financial services division is also an important source of profit, and Iyer expects that segment to record double-digit growth, subject to changes in the broader business environment.

The outlook suggests that the company’s recovery expectations are supported by more than one business area. While travel demand is showing signs of improvement, the expected expansion of financial services could also support overall performance.

Nevertheless, management’s forecast remains conditional. A renewed deterioration in international conditions, further travel disruptions or other external shocks could affect the company’s ability to meet its expectations.

Thomas Cook India Expects FY28 Bookings to Increase

Looking beyond the current financial year, Thomas Cook India expects passenger numbers and travel bookings to rise in fiscal year 2028 compared with fiscal year 2027.

Iyer said he expects FY28 to be better than FY27 unless there is a significant deterioration in the external environment. The outlook reflects the company’s expectation that travel demand will continue recovering after a difficult period marked by international disruptions.

Higher passenger numbers and bookings would indicate an improvement in customer activity across the company’s travel operations. For a travel business, booking trends are particularly important because they provide an indication of future demand before customers complete their journeys.

However, the company’s expectations are not a guarantee of future growth. Travel demand can be affected by several factors, including geopolitical developments, airline operations, weather conditions and changes in consumer spending. The company’s FY28 outlook therefore remains dependent on how these conditions develop over the coming months.

El Niño and Extreme Weather Remain Risks for Travel Demand

One of the risks highlighted by Iyer is the possibility of an El Niño weather pattern. The phenomenon can influence temperatures and weather conditions across different regions, potentially creating challenges for travel planning.

The CEO warned that El Niño could contribute to warmer summers and an energy crisis. Such developments could create additional uncertainty for the travel industry, particularly if extreme temperatures affect popular holiday destinations or increase operating costs.

For European summer holidays, weather conditions are an important consideration because they can influence the attractiveness and timing of trips. Extreme heat may affect outdoor sightseeing, tourist activities and the overall holiday experience.

Energy-related pressures could also have wider consequences for travel businesses and consumers. Changes in energy costs may affect transport and other travel-related expenses, although the eventual impact will depend on how conditions develop.

The weather outlook is therefore another factor Thomas Cook India will need to monitor as it prepares its summer packages and evaluates demand for the next financial year.

What Thomas Cook India’s Travel Outlook Means for Indian Holidaymakers

The company’s latest outlook points to continued interest in international holidays, even as geopolitical and weather-related developments influence travel decisions. Strong European winter bookings suggest that customers are still willing to travel, although some may be adjusting their plans around changing conditions.

The delayed summer package launch means travellers interested in European holidays for 2027 may have to wait a little longer for Thomas Cook India’s updated offerings. The company expects to introduce the packages in the second or third week of November 2026.

For customers, the broader situation reinforces the importance of checking travel arrangements, transport availability and destination conditions before finalising international holidays. Changes in airline operations or local disruptions can affect itineraries, particularly when trips involve multiple destinations.

For Thomas Cook India, the immediate priorities are to navigate the remaining months of FY27, maintain the recovery in travel demand and prepare for the next summer travel season. The company’s expectation of higher bookings in FY28 reflects confidence in a stronger travel market, but geopolitical uncertainty and extreme weather remain important risks.

What to Watch Next

The next few months will be important for understanding whether Thomas Cook India’s improving demand translates into stronger financial results. The company’s second-half performance, winter holiday bookings and the eventual launch of its European summer packages will offer indications of how customers are responding to the changing travel environment.

Investors and travellers will also be watching developments in Europe and the Middle East, as well as weather forecasts and the potential effects of El Niño. These factors could influence travel costs, destination choices and booking decisions.

For now, Thomas Cook India is balancing a cautious approach to European summer holidays with an optimistic outlook for future demand. Despite lower revenue and profit in the first half, management expects a recovery in the second half and higher passenger numbers and bookings in FY28, provided external conditions remain manageable.