London — On Thursday, British travel firm Thomas Cook launched a review of its airline after posting a worsening quarterly loss on challenging trade. The company, which offers package holidays to northern Europeans looking for summer sunshine, has decided to focus more on hotels. “We are, today, announcing a strategic review of our group airline,” said CEO Peter Fankhauser in a results statement. “We are at an early stage in this review process that will consider all options to enhance value to shareholders and intensify our strategic focus. We will provide an update on this process in due course.” Thomas Cook’s airline business operates a fleet of 103 aircraft, about one quarter of which serve long-haul destinations. It has, however, reduced 2019 capacity in the face of challenging conditions, as holiday makers eye economic uncertainty arising from Brexit. “Brexit is in many customers’ minds,” Fankhauser admitted in a conference call to reporters. The group has sought to slash cost...

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