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Viking to build two more ships for 2012

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Viking to build two more ships for 2012

By Kenneth Kiesnoski
PASSAU, Germany — Viking River Cruises, responding to market demand, said it will launch two additional vessels in 2012.The Embla and the Aegir will be part of the new Viking Longship class, bringing the total of such ships to debut next year to six.

The new vessels will be introduced in July and August 2012, joining the previously announced Freya, Idun, Njord and Odin, all to enter service in March.

“Ever since we announced the introduction of the Viking Longships earlier this year, the response has been overwhelming,” CEO Torstein Hagen said in a statement. “To accommodate demand, we have decided to accelerate the newbuild schedule.”

The two new ships are part of Viking’s $250 million fleet-redevelopment program, which includes refurbishment of existing vessels as well as the introduction of 10 Longships by 2014.

The Longships will measure 443 feet long and feature 95 staterooms, including two 445-square-foot Explorer suites; seven 275-square-foot Veranda suites; and 39 Veranda staterooms measuring 205 square feet.

The vessels will also have Viking’s new Aquavit Terrace, an indoor-outdoor lounge space; al fresco dining on the ship’s upper decks; and green features such as energy-efficient hybrid engines, solar panels and organic herb gardens.

Thomas Cook denies plans to close ‘hundreds of shops’

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Thomas Cook denies plans to close ‘hundreds of shops’

By Ian Taylor  |  Aug 15, 2011 08:00AM GMT

Thomas Cook has dismissed a weekend report that it is considering “plans to close hundreds of shops”.

A Thomas Cook spokeswoman said: “There is no substance at all to the story” – which appeared in the Sunday Times.

The group is poised to merge its UK retail outlets with The Co-operative Travel and Midlands Co-operative to create a chain of more than 1,200 travel agencies and has consistently said no more than about 75 shops will close as a result. The deal could be signed off by the Competition Commission any time between now and October.

The Sunday Times claimed Thomas Cook “is expected to rethink the number of shops it needs”. However, the spokeswoman told Travel Weekly: “We have said we will close 75 when the deal goes through.” She added: “We have said the strategic review will look at the multi-channel [distribution] business.”

Thomas Cook announced a “fundamental review” of its UK business following a profits warning in July. In a statement in early August – on the day Manny Fontenla-Novoa stepped down as chief executive – the group identified “the efficiency of our retail network” and “the size and structure of the airline” as among the areas the review would examine.

The spokeswoman confirmed the review is looking at the airline, including the size of the fleet, but said: “No decisions have been taken.”

The merger with the Co-ops has been touted as a means to increase both in-house distribution and margins, since more high-margin package holidays are sold through shops than other channels. However, industry commentators have questioned the wisdom of acquiring such a sizeable chain of stores during a consumer downturn.

Members of the Thomas Cook board – led by chairman Michael Beckett, acting chief executive Sam Weihagen and chief financial officer Paul Hollingworth – sought to demonstrate confidence in the group last week by purchasing more than 775,000 shares in the company.

The share price fluctuated wildly through last week along with the market, losing 16% on Monday, regaining 17% on Tuesday and climbing 6% on Friday to leave shares trading at 55.6p at the week’s end – giving Thomas Cook a market capitalisation of just under £487 million. Further fluctuations are expected.