logo
Thomas Cook sees July rebound in travel bookings after Q1 disruptions ease

Thomas Cook sees July rebound in travel bookings after Q1 disruptions ease

Company sees pickup in forward bookings post-Air India crash and Pahalgam attack; festive demand and long weekends to drive H2 recovery
Mumbai
Listen to This Article
Thomas Cook India has witnessed a revival in domestic travel bookings in July after a sharp dip during the April–June quarter due to geopolitical tensions. Travel sentiment had taken a hit following the Pahalgam terror attack in April and the Air India crash in June, but bookings are now slightly ahead of last year, the company said.
'Before April 21, our forward bookings were trending 25 per cent ahead of last year. But by the end of June, they had declined 11 per cent YoY,' said Mahesh Iyer, managing director and chief executive officer, Thomas Cook India. 'From July onwards,
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Earnings recovery can revive value funds, invest with 5-year horizon
Earnings recovery can revive value funds, invest with 5-year horizon

Business Standard

time10 minutes ago

  • Business Standard

Earnings recovery can revive value funds, invest with 5-year horizon

Allocation to these funds is essential for style diversity within portfolio premium Sarbajeet K Sen Listen to This Article Value funds delivered strong returns in 2023 (up 35.2 per cent) and 2024 (20.1) per cent. However, they have had a turbulent 2025, with a category average loss of 2.8 per cent over the previous year. Despite this, investors remain optimistic, pouring in Rs 1,470 crore in July 2025. As many as 38 schemes managed assets worth Rs 2.04 trillion (as on July 31), according to data from the Association of Mutual Funds in India. 'Value funds had a good run over three to four years as the economic recovery played out post-Covid. Some cyclical adjustment may have played out

Lock in High Yields Now: Jiraaf's Saurav Ghosh on Why Corporate Bonds Are a Standout Bet
Lock in High Yields Now: Jiraaf's Saurav Ghosh on Why Corporate Bonds Are a Standout Bet

Economic Times

time10 minutes ago

  • Economic Times

Lock in High Yields Now: Jiraaf's Saurav Ghosh on Why Corporate Bonds Are a Standout Bet

In an environment of persistent equity market volatility and a shifting global trade landscape, debt is stepping into the Ghosh, Co-Founder of Jiraaf, explains why high-yield corporate bonds are emerging as one of the most attractive opportunities of locking in double-digit returns ahead of expected rate cuts to capitalising on India's resilient economic fundamentals and healthy corporate balance sheets, Ghosh outlines why now may be the perfect time for investors to secure stable, predictable income in their portfolios. Edited Excerpts – Kshitij Anand: Given the uncertainty across the globe, whether geopolitical or trade- and tariff-related, will we see new highs in H2 — the second half of 2025 — or do you expect further consolidation at this point in time? Saurav Ghosh: Right now, the norm of the hour is obviously volatile markets. The US trade policy has kept everyone on their toes. The US tariff consists an existing 25% levy and an additional 25%. As we all expect, these conversations are going to continue and there will be some to-and-fro between the two countries over the next few weeks. As the geopolitical environment remains volatile, the equity markets follow suit and remain volatile. What I would expect for the next half of the year is a phase of consolidation. We might see brief rallies in the equity markets during periods of calm, but overall, given the volatility in the geopolitical environment, the equity markets are going to remain choppy.I do not expect a post-COVID-type clear bull rally in the equity markets. Instead, it will be a phase of consolidation with brief rallies — that, I would expect, will be the norm for the balance of Anand: So volatility will remain throughout the rest of 2025. Now, despite internal macroeconomic stability, how exposed are Indian markets to external risks such as oil price fluctuations or trade realignments? Saurav Ghosh: India is definitely not immune. We have taken several measures to absorb some of the shocks — for example, India dealing in oil with Russia or our trade policy with the UK. These measures have reduced dependency on the US or, in general, the rest of the global India is still not immune. For instance, the US tariff policy can have an impact of around 0.4% of GDP. The US tariff stance is something everyone will closely said, India remains a very resilient economy. Domestic growth is strong, inflation is at some of the lowest levels we've seen, domestic demand is robust, and forex reserves are while India is exposed to geopolitical risks and external factors like movements in oil prices and tariff policies, the country is otherwise in great shape. Watch the livestream below: Volatility & Yield: India's 2025 Playbook Kshitij Anand: Geopolitical risks are widely discussed in equity terms, but what about the impact on debt markets? Saurav Ghosh: In volatile markets and geopolitical environments, investor sentiment typically shifts towards a 'flight to safety.' This means global investors may gravitate toward US 10-year treasuries as their go-to investment asset class. You might see some global capital moving Indian domestic investors tend to prefer debt markets when equity markets are volatile. Debt markets tend to do well in such times, and sometimes we even see yield inflation remains uncertain due to trade disruptions, and investors are waiting to see how it plays out and what stance central banks take on interest rates — which will affect global debt markets as India's case, growth is strong, and the RBI has made it clear that it is prioritising growth over the next 12 months. We've already seen multiple rate combined with India's attractiveness to both domestic and global investors, makes me expect a lot of capital inflows into Indian debt markets over the next six to eight months. Kshitij Anand: US yields have remained elevated, but does the tightening of the yield spread weaken India's appeal to global bond investors? Saurav Ghosh: Currently, the US 10-year G-Sec yield is between 4.2% and 4.3%. India is around the 6.3% mark, so that's a spread of about 200 bps to 220 bps — a range it has held for a while. India, as an emerging market economy that is very stable, with strong domestic growth and a resilient economy, looks highly attractive to global investors. In fact, the 200 bps spread over the US G-Sec yield makes India very appealing, given the rest of the fundamentals are in great the yield spread has compressed from historical levels of around 400 bps to today's 220 bps, but India still continues to be very attractive to global factor driving this appeal is the expectation that the RBI will be more accommodative in its interest rate policy going forward, given the strength of the overall believe there will be further interest rate cuts in the next six months, which could lead to a rally in the debt despite the 200–220 bps credit spread from the US 10-year G-Sec, India remains a very attractive market. Kshitij Anand: Should the debt market prepare for a rate-driven rally in the second half of the year? Saurav Ghosh: Yes. Globally, the US has not yet moved aggressively on interest rate policy due to trade uncertainties, and they are still in a wait-and-watch mode. However, there is a strong expectation that the US will also start easing rates, leading to some global rate cuts as global markets easing and the RBI expected to deliver on rate cuts, I think the second half of 2025 should see a very strong debt rally, fuelled by these rate now is a great time to lock in high rates by investing in long-duration debt papers and corporate bonds. Over the next six months, you should definitely see a debt rally. Kshitij Anand: Are high-yield corporate bonds truly an opportunity in the current landscape? Saurav Ghosh: Yes, absolutely. Beyond the expectation of rate cuts, high-yield bonds with long durations — even from 12 to 48 months — present a great opportunity to lock in rates today. But there are also other factors that make them attractive. For example, equity markets continue to be volatile, so you can't be sure what kind of fluctuations you'll have to deal with over the next 12 to 18 months. Investment-grade corporate bonds give you predictability and the assurance of fixed returns, making them a strong asset class in your from a corporate market perspective, Indian companies now have some of the healthiest balance sheets post-COVID. Corporate debt levels are at some of their lowest, and defaults or delinquencies in investment-grade papers are a combination of volatile equity markets, the ability to lock in rates for a long duration while expecting rate cuts, and an overall strong credit environment makes this a wonderful time to allocate a good portion of your portfolio to high-yield corporate bonds. Watch the livestream below: Volatility & Yield: India's 2025 Playbook Kshitij Anand: Are OBPP, or online bond platform providers such as yours, witnessing greater traction in 2025 due to the need for predictable income and yield-based stability? Saurav Ghosh: Absolutely. As an online bond platform, we are democratising access to fixed-income products through our platform, Jiraaf. On Jiraaf, you can access investment-grade bonds — from G-Secs, which yield about 6%, all the way up to 14% for the investment-grade bonds we offer on our platform. Since the start of the year, given that markets have remained volatile for six to eight months now, and with the RBI having already cut rates by almost one percentage point and further cuts expected, we have seen a lot of traction from individual investors on our platform. They are rapidly increasing their allocation to fixed income.A lot of people have not invested directly in fixed income so far because equity markets have performed well for a long period. But those who already have exposure to the asset class are ramping up their allocation significantly in the last six months. In addition, we have seen a large number of new investors entering the market, obviously to earn some predictable returns in volatile times. Kshitij Anand: We are going to talk a little bit about risk as well. Is the strong push behind high-yield bonds a fair reflection of their risk–reward profile in today's market, especially when compared to, let's say, richly valued equities? Saurav Ghosh: Equity markets are obviously volatile. Whether valuations are elevated or not is anyone's guess. But in these times, with high-yield corporate bonds, you can comfortably earn yields in the range of 10% to 14%, depending on your risk appetite. Given these are investment-grade papers, delinquencies are currently at historical lows, and corporate balance sheets are very healthy. In fact, from a risk-adjusted perspective, investment-grade corporate bonds are very attractive right given the volatility in equity markets, this asset class becomes even more appealing in today's environment. It's a great time to participate and at least diversify away from equity markets, as that will help balance and provide the stability every financial portfolio needs. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

UK clothing exports drop 15% in June 2025 amid EU demand weakness
UK clothing exports drop 15% in June 2025 amid EU demand weakness

Fibre2Fashion

time12 minutes ago

  • Fibre2Fashion

UK clothing exports drop 15% in June 2025 amid EU demand weakness

Insights UK clothing exports dropped * * . * per cent YoY to $ * * * million in June * * * * , reflecting weak European demand, higher costs, and Asian competition. . per cent YoY to $ million in June , reflecting weak European demand, higher costs, and Asian competition. Quarterly and annual data show a persistent decline since * * * * , highlighting post-Brexit trade frictions. , highlighting post-Brexit trade frictions. Textile fabrics and fibres remain steadier, but diversification and value-added strategies are vital for revival. To read the full story, become a PRIME member today. All Corporate Members and TexPro Subscribers are eligible to access F2F PRIME CONTENT using the same login credentials. Latest News Insights Latest News Insights Exclusive Industry Articles & Features Exclusive Industry Articles & Features Detailed Article Analytics & Insights Digital Edition of Fibre2Fashion Magazine Digital Edition of Fibre2Fashion Magazine Get notified in your mailbox

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store