>> This kind of thing is not a welcome sight for the world's oldest travel company. Thomas Cook blaming an unusually hot British summer for a slump in sales. Holiday makers choosing to bask at home instead of traveling.>> Yeah, last year's summer wasn't as hot as this, I really like it.
>> Thomas Cook shares down by almost a third Thursday. That after it cut its full year forecast for a second time and suspended paying a dividend. Reuters Breakingviews, Aimee Donnellan says a hot summer isn't the full story.>> You can see basically that their winter bookings are slowing down.
Their leverage is going up, so they're borrowing more money.>> Traders may not buy the firm's explanations. Giant German rival Tuey shrugged off the impact of a hot summer when it reported earnings earlier in the year. Now Thomas Cook also has to worry about the B word.>> And what we were hearing from them today was that people are actually coming in with concerns about the Brexit and whether they should be booking a holiday to a European destination.
And they are seeing an up tic in destinations like Tunisia and Egypt where there have been previous concerns about kind of safety.>> London weather now back to a more familiar grey, too late for Thomas Cook though. The company makes almost all its profits on summer breaks. It will be hoping next year's British summer looks more like this.