Thomas Cook could be set to lose £20m after losing out on holiday bookings following the Tunisian terrorist attack and Greece's financial woes.
The tour operator is set to post its third-quarter results this week and according to analysts at investment banking firm Jefferies, the two crisis that occured during the peak summer holiday season have had a large impact on Thomas Cook's revenue, the Telegraph reports.
It is estimated that around 10 per cent of Thomas Cook’s passengers travel to North Africa and about a third head for Tunisia.
The news comes at a difficult time for the tour operator which faced backlash earlier in the after it emerged it had received £3.5m from a hotel chain where two young children died from carbon monoxide poisoning while holidaying with Thomas Cook. The company's boss Peter Fankhauser said at the time that "while it was early stages" bookings had not been affected by the controversy.