ABTA's Business Resilience Webinar Series Preparing for September

Total Page:16

File Type:pdf, Size:1020Kb

ABTA's Business Resilience Webinar Series Preparing for September ABTA’s Business Resilience Webinar Series Preparing for September ABTA and ATOL Renewals 12 August 2020 10 :30 – 12:00 10 :30 Welcome from the moderator John de Vial, Director of Membership and Financial Services, ABTA 10:35 Setting the scene: impact of Covid-19 on the travel industry and forecast recovery models Martin Alcock, Director, The Travel Trade Consultancy (TTC) 10:55 ABTA subscriptions and renewals • What you need to know • Changes to documentation processes as a result of the pandemic • Practical guidance ahead of the September deadline John de Vial, Director of Membership and Financial Services, ABTA Doug Ross, Financial Protection, Reporting and Captive Programme Manager, ABTA 11:05 Surgery: ABTA renewals Get your pre-submitted and live questions answered during this session John de Vial, Director of Membership and Financial Services, ABTA Doug Ross, Financial Protection, Reporting and Captive Programme Manager, ABTA 11:15 ATOL renewals • What you need to know • Changes to assessment criteria • Practical guidance including cash flow forecasts • Brexit and local insolvency options in the EU Simon Brodie, Director, The Travel Trade Consultancy (TTC) 11:30 Financial security arrangements and bonding • Tips around level of information required Tony Gilpin, Managing Director, Towergate Travel 11:40 Surgery: ATOL renewals Get your pre-submitted and live questions answered during this session Moderated by John de Vial, Director of Membership and Financial Services, ABTA Simon Brodie, Director, The Travel Trade Consultancy (TTC) Tony Gilpin, Managing Director, Towergate Travel Doug Ross, Financial Protection, Reporting and Captive Programme Manager, ABTA 12:00 Close [email protected] @ABTAevents #ABTArenewalswebinar abta.com/abtaevents Preparing for September ABTA and ATOL Renewals Speaker profiles John de Vial, Director of Membership and Financial Services, ABTA John is ABTA’s Director of Membership and Financial Services, with 30 years of travel industry experience, followed by 10 years at ABTA. John has operated at Board level within the ILG/Air Europe; Thomson Travel Group/TUI UK; MyTravel Group plc; Thomas Cook Group plc and Shearings Groups. He has served three terms on the ABTA Board and Chaired ABTA’s disciplinary Code of Conduct Committee, as well as the FTO Health & Safety and Responsible Tourism Committee’s. John is a Member of the Government’s Air Travel Insolvency Protection Committee (ATIPAC) which advises the Secretary of State and the CAA on consumer protection. John is a Trustee of ABTA Lifeline, ABTA’s benevolent charity and The Travel Foundation, a sustainability charity. He is also a Director of Travelife Limited – a certification body in the hotel sustainability accreditation market. He supports the Family Holiday Association (FHA) – an industry charity providing short breaks for some of the most deprived children and families in the UK – generally with a London Marathon or 100km Ultra challenge sponsored event each year. John heads up ABTA’s membership; financial protection; risk; claims and insurance operations, including our captive insurance company, ABTA Insurance PCC Limited. Martin Alcock, Director, The Travel Trade Consultancy (TTC) Martin qualified as a Chartered Accountant with PricewaterhouseCoopers and then spent five years as a senior analyst at the CAA in charge of a team monitoring the top 200 ATOL holders. His work in developing the CAA’s policies for making licensing decisions, taking regulatory action, and permitting M&A transactions gives him a unique insight into the best way to approach the regulators. Since joining TTC, Martin has advised a wide range of tour operator and travel agent clients, private equity firms, and banks. [email protected] @ABTAevents #ABTArenewalswebinar abta.com/abtaevents Preparing for September ABTA and ATOL Renewals Doug Ross, Financial Protection, Reporting and Captive Programme Manager, ABTA Doug is Financial Protection Manager at ABTA and has over 20 years’ experience with ABTA looking after a portfolio of 200+ Members. He leads ABTA’s CRM and financial protection management reporting, Reporting and analysis for ABTA Insurance PCC Limited and Department for Business (BEIS) Approved Body reporting. Simon Brodie, Director, The Travel Trade Consultancy (TTC) Simon has over 18 years’ experience working in the travel industry. He spent ten years at the CAA, as an ATOL analyst in their Consumer Protection Group. In this role, Simon was responsible for licensing a broad portfolio of ATOL holders, ranging from the integrated groups, TUI Travel and British Airways Holidays, down to Small Business ATOL holders (SBAs). Simon joined TTC in 2012, since then he has helped a wide range of travel businesses navigate their regulatory responsibilities. Tony Gilpin, Managing Director, Towergate Travel Tony Gilpin MCMI is Managing Director at specialist Travel Industry Insurance broker Towergate Travel. Tony has worked in the Travel sector for in excess of 25 years. Towergate Travel work with all ranges of clients, from large household names down to bespoke niche Tour Operator’s. He is well known in the sector for his vast experience & extensive knowledge of the EU package Travel Directive. Tony also regularly sits on expert panels and takes part in Government, BEIS think tanks and discussions around consumer protection. Towergate Travel are an ABTA Partner +. [email protected] @ABTAevents #ABTArenewalswebinar abta.com/abtaevents Preparing for September ABTA and ATOL Renewals Contributor profiles For more than 14 years, we’ve been helping travel businesses. Helping with ATOL, ABTA and IATA regulatory and bonding issues. Helping with financial, back office and supplier payment services and helping create business plans, raise money, and find investors. At The Travel Trade Consultancy we offer friendly, concise, practical advice to help you manage your business through changes that affect your business. We also offer a compliance management service that means you’ll never have to think about it again. www.traveltradeconsultancy.co.uk Towergate Travel are a specialist Insurance broker in the travel sector. We work with clients large and small to ensure they meet their legal requirements as set out in the new July 2018 Package Travel Directive. Specific areas of expertise include Financial Failure Insurance (TRIP), Travel Bonding ABTA, IATA, ATOL & BCH, Tour Operators Liability & Car Hire Collision damage waiver excess products. Our TRIP Financial Failure Product is one of very few that is fully approved / recognised by ABTA and merchant acquirers. Our friendly / consultative approach allows us to work with you to find the option that is right for you. www.towergateinsurance.co.uk/travel-insurance [email protected] @ABTAevents #ABTArenewalswebinar abta.com/abtaevents Preparing for September ABTA and ATOL Renewals Contributor and webinar partner profile Traditional enterprise software is clunky, expensive and not focused on how you can wow your customers with the ultimate service and experience. At Freshworks, we believe that you deserve better- providing customer-for-life software that’s modern, mobile and affordable- enabling you to deliver wow moments to customers all over the world. We work with industry leaders to streamline customer conversations, automate repetitive work and save time- ensuring that teams can collaborate to deliver world class customer engagement. www.freshworks.com [email protected] @ABTAevents #ABTArenewalswebinar abta.com/abtaevents .
Recommended publications
  • Turismo E Transporte Aéreo Em Portugal
    Turismo e transporte aéreo em Portugal Relatório (volume V de V) V Parte – Procura/oferta de turismo e intervenção pública Anexo - Package holiday e independent travel no Algarve (da década de 1990 à actualidade) Lisboa 15 Outubro 2016 Sérgio Palma Brito Consultor no CIITT Edição: Apoio: 1 Índice Geral Explicação Introdução Iniciais Léxico Explicação sobre conceitos úteis à leitura do texto I Parte – Dos 1950’s à transformação do mercado europeu dos 90’s I.2.Introdução à explosão do turismo na Europa (1950/1992) I.3.Package holiday na Europa Ocidental – os primeiros trinta anos I.4.Anos oitenta – consolidação de operadores e independent travel I.5.Transformação estrutural mercado europeu da viagem de lazer Notas II Parte – Indústrias europeias do transporte aéreo II.1.Introdução II.2.Transporte aéreo na Europa e comparação com outros continentes II.3.Industria europeia de Low Cost Carriers II.4.Industria europeia de Full Service Carriers Notas III Parte – Tráfego aéreo no total dos três aeroportos – continentes, países e empresas III.1.Introdução III.2.Total dos três aeroportos – tráfego por continente emissor III.3.Total dos três aeroportos – tráfego por mercado emissor III.4.Total dos três aeroportos – tráfego por companhia aérea Notas IV Parte – Passageiros em Lisboa, Porto e Faro – continentes, países e empresas IV.1.Introdução IV.2.Passageiros no aeroporto de Lisboa IV.3.Pasageiros no aeroporto do Porto IV.4.Passageiros no aeroporto de Faro 2 Anexo IV.4 – Companhias aéreas em Faro entre 1995/2013 Notas V Parte – Procura/oferta de
    [Show full text]
  • Regno Unito Regno Unito
    REGNO UNITO PROFILO DEL MERCATO TURISTICO 2007 REGNO UNITO Profilo del mercato turistico 2007 1. PROFILO DI SINTESI PROFILO ECONOMICO UK • Popolazione: (Stima a metà 2006): 60.6 milioni • Popolazione con maggiore capacita’ di spesa (Sud Est/Londra) • Tasso di crescita del PIL: 2,7% (2006) • Tasso di disoccupazione: 5,5% (marzo 2007) • Tasso di inflazione: 1,8% (Settembre 2007) – Target 2%. • Salario medio annuale: £24,301 VIE DI ACCESSO • Per l’Italia non e’ richiesto alcun visto • 22 Aeroporti britannici sono collegati con l’Italia • Nel 2006 3.073.000 visitatori britannici si sono recati in Italia in aereo • Incrementano coloro che vanno in Italia via mare da 163.000 a 251.000 (+54%). IL MERCATO TURISTICO IN GENERALE 2006 • Outbound 2006: 69.5 milioni di visitatori britannici all’estero (+4,6%) di cui 55.2 mil. in Europa (79,4%) • La spesa totale per turismo e’ stata di £34.411.000 (+7%) di cui £21.344 mil. in Europa. • La spesa media per vacanza e’ stata di £495. DINAMICHE DEL MERCATO TURISTICO • Nel 2006 45.287.000 sono stati i viaggi per vacanza di cui 18.951 mil. i pacchetti tutto compreso e 26.336 mil. i viaggi indipendenti. I viaggi per affari sono stati pari a 9.102 mil. e le visite a parenti e amici 11.963 mil. I restanti 3.184 mil costituiscono il mercato di nicchia. • L’affluenza maggiore in Italia (2006) si e’ registrata nel trimestre Luglio- Settembre. I FLUSSI VERSO L’ITALIA E LA CONCORRENZA • Dati Ufficio Statistica UK : nel 2006 l’Italia e’ la quinta destinazione preferita con una quota di mercato pari al 4,8% con 3.380.000 mil.
    [Show full text]
  • Thomas Cook Group Plc Annual Report & Accounts 2011
    Thomas Cook Group plc Annual Report & Accounts 2011 plc Annual Thomas Cook Group Thomas Cook Group plc Annual Report & Accounts 2011 Thomas Cook Group plc Annual Report & Accounts 2011 Taking action to strengthen our business. Thomas Cook Group is one of the world’s leading leisure travel groups, with sales of £9.8bn and 23.6m customers. We operate under six geographic segments in 22 countries and are number one or two in our core markets. 2011 has been a challenging year for Thomas Cook, largely due to the disappointing performance of our UK business and the impact caused by the disruption in the MENA region, particularly on our French business. Our 2011 Annual Report is our platform to present to you the strength inherent in the scope of our business, together with the changes we have made and our plans to better position the Group for the future. Contents Directors’ Report: Business Review Financial Statements The Group’s financial and operational performance, Audited financial information for the Group and our business model, strategy and key risks key information for shareholders 01 Financial summary 73 Independent auditors’ report 02 Chairman’s statement 74 Group income statement 04 Where we operate 75 Group statement of comprehensive income 06 Joint statement from the Group Chief Executive Officer 76 Group cash flow statement and Group Chief Financial Officer 77 Group balance sheet 12 Market review 79 Group statement of changes in equity 13 Our business model 80 Notes to the financial statements 14 Our strategy 128 Company balance
    [Show full text]
  • Case No COMP/M.4600 - TUI / FIRST CHOICE
    EN Case No COMP/M.4600 - TUI / FIRST CHOICE Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(2) NON-OPPOSITION Date: 04/06/2007 In electronic form on the EUR-Lex website under document number 32007M4600 Office for Official Publications of the European Communities L-2985 Luxembourg COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 04-VI-2007 SG-Greffe (2007)D/203384 In the published version of this decision, some PUBLIC VERSION information has been omitted pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information MERGER PROCEDURE omitted has been replaced by ranges of figures or a ARTICLE 6(1)(b) and 6(2) general description. DECISION To the notifying party Dear Sir/Madam, Subject: Case No COMP/M.4600 - TUI/ First Choice Notification of 4 April 2007 pursuant to Article 4 of Council Regulation No 139/20041 1. On 4 April 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertaking TUI AG ("TUI", Germany, or the “notifying party”) acquires within the meaning of Article 3(1)(b) of the Council Regulation sole control over First Choice Holidays PLC ("First Choice", United Kingdom). The travel activities of both groups will be combined in a new group, TUI Travel PLC ("TUI Travel", United Kingdom). TUI Travel will consist of TUI's Tourism division, excluding certain hotel assets and the German ocean cruise and other shipping activities, and First Choice.
    [Show full text]
  • Marketing for Tourism Provides an Introduction to the Theory Of
    Marketing for Tourism provides an introduction to the theory of Marketing for marketing and its application in the various sectors of the travel and for Marketing fourth edition tourism industry. This leading text has been fully revised and updated to Tourism take account of recent changes within this dynamic environment. J Christopher Holloway The fourth edition provides a wide international dimension, notably in the 13 longer case studies at the end of the text. A brand new section shows full colour illustrations of recent advertising and promotional strategies. There is broad-ranging coverage of key issues such as branding, CRM, Marketing for sustainability and the changing patterns of distribution in this fast- fourth edition moving industry. A strong pedagogical structure throughout the book includes learning Tourism objectives, mini cases, and end-of-chapter questions and issues for T discussion. Clearly laid out and accessibly written, the book is ideal for ourism students taking modules on marketing for tourism within undergraduate and masters-level degrees in Tourism, Hospitality, Marketing and Business Studies. J Christopher Holloway Key Features • Range of brand new and international cases f • Coverage of relationship marketing, branding and sustainability ourth edition • Impacts of new technologies, internet and e-marketing • Thorough update, particularly of tour operating and retail environments • New chapter on the sales function • Website provides a selection of presentation slides at www.booksites.net/holloway Holloway Chris Holloway was formerly Professor of Tourism Management, University of the West of England. www.pearson-books.com an imprint of Marketing for Tourism We work with leading authors to develop the strongest educational materials in leisure and tourism, bringing cutting-edge thinking and best learning practice to a global market.
    [Show full text]
  • Since Thomas Cook's Inaugural Trip in 1841, His Name Has Come To
    CSB_078-079_ThomasCook:250 x 342 15/6/09 07:40 Page 78 SUPERBRANDS 2009/10 superbrands.uk.com Since Thomas Cook’s inaugural trip in 1841, his name has come to represent a pioneering approach to tourism. Introducing the first overseas package tour in 1855, today Thomas Cook takes six million British holidaymakers abroad each year. Thomas Cook Group plc has a network of more than 3,400 stores across 21 countries and over 22.3 million customers, making it one of the world’s leading leisure groups. the pioneer of popular tourism, Thomas Cook described himself as “the willing and devoted servant of the travelling public” and today the company maintains many of his original values. Market such as Thomas Cook, Airtours, Cruise Formed from the merger with MyTravel Group Thomas Cook and Direct Holidays as well It is an approach that has stood the company in 2007, the new Thomas Cook Group delivered as niche brands including Thomas Cook in good stead, with several Thomas Cook strong results in its first full year of trading; Signature, Cresta and Club 18-30, it is able to brands recognised with industry accolades against an unsettled economic backdrop, it has offer a holiday or service to suit a myriad of in 2008/09. Its retail network was named laid firm foundations for the future. To maintain tastes and budgets. The Group recently added Large Travel Retailer of the Year at the British its industry-leading margins, the Group’s focus hotels4u.com, Elegant Resorts, Gold Medal Travel Awards and Thomas Cook was named lies on continued tailoring of its offering to and Med Hotels to its portfolio, increasing its Favourite Package Holiday Provider at the 2009 meet the needs of its customers.
    [Show full text]
  • Turizm Yönetimi Ve Pazarlama Stratejileri
    ÇALIŞMA RAPORU KONU : TURİZM YÖNETİMİ VE PAZARLAMA STRATEJİLERİ PROGRAM: Travel, Tourism and Hospitality Management and English Studies with Educational Training. TÜRÜ/SÜRESİ: DİPLOMA / 1 YIL YABANCI ÜLKE: İNGİLTERE. OKUL/ÜNİVERSİTE: HAZIRLAYAN: Suzan KURT Müfettiş Kültür ve Turizm Bakanlığı Aralık ,2009 İÇİNDEKİLER 1- GİRİŞ................................................................................................................................4 2- TURİZM YÖNETİMİ......................................................................................................5 2.1-Turist Tanımı ve Çeşitleri .............................................................................................5 2.2- Turistlerin Seyahat Etme Niyeti...................................................................................6 2.2.1- Dinlenme ve Eğlenme...........................................................................................6 2.2.2- Arkadaş ve Akraba Ziyaretleri ..............................................................................6 2.2.3-İş Yapma ...............................................................................................................6 2.3- Turizmi Etkileyen ve Turizmden Etkilenen Faktörler...................................................6 2.3.1-Ekonomik Faktörler ...............................................................................................7 2.3.2-Sosyo-Kültürel Faktörler........................................................................................7 2.3.3-Demografik Faktörler.............................................................................................8
    [Show full text]
  • An Investigation Into Online Training for the Travel Agency Sector Within the United Kingdom
    Trading Places with Interfaces: An Investigation into Online Training for the Travel Agency Sector within the United Kingdom Donna O’Donnell MTourS 2012 Trading Places with Interfaces: An Investigation into Online Training for the Travel Agency Sector within the United Kingdom Donna O’Donnell A thesis submitted to Auckland University of Technology in partial fulfillment of the requirements for the degree of Master of Tourism Studies (MTourS) 2012 School of Hospitality and Tourism ii Contents Table of Figures .............................................................................................................................. v Acknowledgements ...................................................................................................................... vii Abstract ....................................................................................................................................... viii 1. Introduction .............................................................................................................................. 1 1.1 The Role of the Travel Agent......................................................................................... 2 1.1.1 Travel Agent Survival Strategies .................................................................................. 5 1.2 The Role of Destination Marketing Organisations ........................................................ 6 1.3 Aims and Objectives .....................................................................................................
    [Show full text]
  • Crisis! What Crisis? a Descriptive and Normat Ive Study on Crisis Management for Tour Operators
    Crisis! What Crisis? A Descriptive and Normat ive Study on Crisis Management for Tour Operators Lönnroth Tanja and Saboundji Akram Graduate Business School Tourism and Hospitality Management Master Thesis No. 2007:34 Supervisor: Eva Gustavsson Abstract This study attempts to identify crisis management practices deployed by tour operators to face crises. Tour operators exercise a pivotal role in channelling tourism flows. Nevertheless, this role is often destabilized by crises in an increasingly volatile environment. Hence, sustaining the tour operators’ role and ensuring their long term growth demands a formal crisis management system. Yet, the ambiguous nature of the tour operating industry inhibits researchers from exploring existing crisis management practices. Therefore probing, metaphorically, is used to conduct an overview of these practices. It relies on a multiphase scanning of different sources representing various tour operators’ internal and external stakeholders. The study reveals that many tour operators consider crisis management as an operational issue, although crises are dealt with strategically. Furthermore, a generally adoptable crisis management system could not be clearly identified. As such, a flexible crisis management framework is suggested for tour operators to consider. The framework is based on the concepts of latent and active prevention, operational and strategic responses, legitimization, and organizational learning. The framework is also used to suggest areas for future research. 1 TABLE OF CONTENTS LIST
    [Show full text]
  • Thomas Cook Group Plc (Incorporated with Limited Liability in England and Wales with Registered Number 06091951) €400,000,000 6.75 Per Cent
    Level: 9 – From: 9 – Tuesday, April 20, 2010 – 10:05 – eprint6 – 4190 Intro PROSPECTUS Thomas Cook Group plc (incorporated with limited liability in England and Wales with registered number 06091951) €400,000,000 6.75 per cent. Guaranteed Notes due 2015 guaranteed by certain subsidiaries of Thomas Cook Group plc Issue price: 99.44 per cent. The €400,000,000 6.75 per cent. Guaranteed Notes due 2015 (the “Notes”) will be issued by Thomas Cook Group plc (the “Issuer” or “Thomas Cook”) and will (subject to the limitations contained herein) be unconditionally and irrevocably guaranteed (the “Notes Guarantee”) on a joint and several basis by the Guarantors, as described under “Conditions of the Notes – Notes Guarantee”. References herein to the “Guarantors” shall be references to Condor Flugdienst GmbH, TC Touristik GmbH, Thomas Cook AG, Thomas Cook Airlines Belgium NV, Thomas Cook Belgium NV, Thomas Cook Group Treasury Limited, Thomas Cook Retail Limited, Thomas Cook SAS, Thomas Cook Tour Operations Limited, Thomas Cook UK Limited, Thomas Cook Airlines Limited, Thomas Cook Scheduled Tour Operations Limited, Thomas Cook Airlines Scandinavia A/S, Thomas Cook Canada Inc. and Bucher Reisen GmbH, and so far as the context permits, also includes any subsidiary of the Issuer which becomes a guarantor of the Notes after the Issue Date, but shall not include any subsidiary of the Issuer which ceases to be a guarantor of the Notes after the Issue Date, all as described under “Conditions of the Notes – Notes Guarantee”. References herein to the “Group” are to the Issuer and its Subsidiaries. The Issuer may, at its option, redeem all, but not some only, of the Notes at any time at their principal amount plus accrued interest in the event of certain tax changes as described under “Conditions of the Notes – Redemption and Purchase”.
    [Show full text]
  • Britons' Significant Interest in Travel Reflected in January U.K. Web Activity, According to Comscore Networks
    Britons' Significant Interest in Travel Reflected in January U.K. Web Activity, According to comScore Networks New Years Resolutions Drive Traffic to Career, Property, and Health Sites London, U.K., February 27, 2007 – comScore Networks, a leader in measuring the digital age, today revealed the top U.K. Internet properties for January, based on data collected through its comScore World Metrix audience ratings service. Notably, the Travel category saw significant increases in January versus December, with half of the top 20 gaining sites belonging to the Travel category. Among the top gainers, Expedia grew 60 percent to 6.6 million U.K. visitors, boosting the site into the top 20 U.K. properties. “After returning from the Christmas holidays, with months of winter weather still ahead, Brits flocked to travel Web sites to plan their next holiday,” said Bob Ivins, managing director of comScore Europe. “January has historically been the time to plan travel, and this seasonal trend is now being borne out online, with many Travel sites seeing their traffic more than double.” Other top gaining Travel sites included MyTravel Group plc, up 169 percent to 3.3 million visitors; Thomas Cook AG, up 153 percent to 3.1 million visitors; First Choice Holidays PLC, up 145 percent to 3 million visitors; TUI Group, up 109 percent to 5.5 million visitors; Cheapflights Sites, up 103 percent to 2.5 million visitors; Priceline.com Incorporated, up 73 percent to 2.4 million visitors; EasyGroup, owners of easyJet, up 60 percent to 3.8 million visitors; British Airways, up 50 percent to 3.4 million visitors; and Lastminute.com Sites, up 49 percent to 4.2 million visitors.
    [Show full text]
  • Thomas Cook Group Plc Annual Report & Accounts 2008 We Are
    Thom Cook_Cover.qxd:Layout 1 26/1/09 15:01 Page 1 Thomas Cook Group plc We are one of the world’s leading leisure travel groups, with a focused strategy, a flexible business model and a portfolio of market-leading travel brands. Across our group we are committed to our vision of going further to make dreams come true – exceeding our customers’ Annual Report & Accounts 2008 expectations, offering fulfilling careers to the best team of people in the industry, and delivering sustainable value to our shareholders. With a heritage of more than 167 years in travel we understand the importance of thinking beyond the short term. We are focused on building a stronger business today – to ensure we remain market leaders tomorrow. Contents DIRECTORS’ REPORT – BUSINESS REVIEW Chairman’s statement 2 Board of Directors 48 DIRECTORS’ REPORT – CORPORATE GOVERNANCE Business at a glance 4 Group Executive Board 50 Where we operate 6 Corporate governance report 51 Chief Executive Officer’s statement 8 Other disclosures 57 Our marketplace 12 Remuneration report 59 Our strategy 14 Our strategy in action 17 Operational review 28 Corporate social responsibility 38 Financial review 41 Principal risks and uncertainties 46 FINANCIAL STATEMENTS Independent auditors’ report 67 Group income statement 68 Group statement of recognised income and expense 69 Group balance sheet 70 Group cash flow statement 72 Notes to the Group financial statements 73 Company balance sheet 111 Company statement of recognised income and expense 112 Company cash flow statement 112 Notes to the Company financial statements 113 Appendix 1 – Unaudited pro forma financial information 120 Appendix 2 – Key performance indicators definitions 126 Thomas Cook Group plc Shareholder information 127 www.thomascookgroup.com Annual Report & Accounts 2008 Thom Cook_Cover.qxd:Layout 1 26/1/09 14:39 Page 1 Thomas Cook Group plc We are one of the world’s leading leisure travel groups, with a focused strategy, a flexible business model and a portfolio of market-leading travel brands.
    [Show full text]