Thomas Cook and Tui hit by Sharm el-Sheikh flight ban

Flights have been grounded after US and UK intelligence said that a bomb may have caused a Russian jet from the Egyptian holiday destination to crash

Grounded: All flights between Sharm el-Sheikh and Britain have been suspended

Mike Nelson/EPA

Angela Jameson

5 November 2015

Shares in holiday companies Thomas Cook and Tui have fallen after flights between Sharm el-Sheikh and Britain were suspended.

All flights were grounded after US and UK intelligence said that a bomb may have caused a Russian jet from the Egyptian holiday destination to crash, killing all 224 people on board.

Thomas Cook’s shares fell 5% to 115p as the City absorbed the news, while Tui shares fell by 1.5% to 1142p.

Shares in British Airways owner IAG and easyJet, which fly to and from Sharm el-Sheikh, were up despite both airlines suspending flights.

The Foreign and Commonwealth Office has advised against all but essential travel to the Red Sea resort.

Thomas Cook has suspended its holiday and flight programme to Sharm el-Sheikh up to and including November 12.

It says on its website that it is seeking to bring all 1700 of its customers back to the UK in due course. In the meantime they can stay on in their accommodation free of charge.

It has been a difficult week for Thomas Cook which was criticised on Monday for putting saving money ahead of its customers’ safety in a report by former supermarket chief Justin King into the company’s handling of the deaths of two children on one of its holidays in Corfu in 2006.

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