Thomas Cook Chief Says Greece, Spain Gaining From Africa Unrest

Greece and Spain are the two main beneficiaries of a shift by holidaymakers away from Egypt and Tunisia, according to the head of Thomas Cook Group Plc, Europe’s second-largest tour operator.

The southern European countries are “clear winners” as customers seek to avoid northern Africa amid political unrest in the region, Thomas Cook Chief Executive Officer Manny Fontenla-Novoa said in an interview in London. Greek hoteliers have cut prices after last year’s economic contraction, while their Spanish counterparts are also offering better deals, he said.