Thomas Cook, Europe's second-largest travel company with more than 3,000 retail outlets, said that summer trading was strong in all markets and it remains confident of meeting expectations for the current year.

The group, which reported a 15 per cent narrowing in first-half loss, saw its shares rise 7.75p to 242p in early trading. Thomas Cook said that pro-forma operating loss for the six months to April 30 was £177.5 million.

Manny Fontenla-Novoa, group chief executive, said the group is continuing to target £480 million operating profit in 2009/10.

He said: "I'm delighted with our performance over the winter and we are in a very good position for the summer season. I remain confident that we will achieve our goals for this year. For the longer term, our strategy is on track."

The company also said Ludger Heuberg is to step down as chief financial officer for family reasons, with Juergen Bueser replacing him from July 1.

Mr Bueser is a member of the group management board and has held the position of chief financial officer of Thomas Cook UK & Ireland since 2005. The group is paying an interim dividend of 3.25 pence per share.

The Thomas Cook group was created last year from the tie-up of Thomas Cook AG and MyTravel.

Analysts at Investec, who retained their Buy recommendation for Thomas Cook, said: "Interims this morning are accompanied by an upbeat trading statement. Pricing has continued to strengthen in all its territories bar Canada, trading for Winter 08/09 has started well and the group has reaffirmed its commitment to €620 million of operating profit in FY10."

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