Holiday operator Thomas Cook has announced heavy quarterly losses but said it is encouraged by bookings for the coming summer.
The British travel firm made a loss of £91m in the last three months of 2011, compared with a loss of £37m during the same period the year before.
But it revealed that summer bookings were only down by 1%, putting the world's oldest travel company ahead of its biggest rivals.
The company said it had been encouraged by activity in the home market.
Thomas Cook acting chief executive Sam Weihagen said: "I have been encouraged by how our bookings have developed, particularly in the UK where our market share for both the winter and summer seasons remains broadly stable."
But the company said it was affected by the political upheaval in the Middle East and North Africa and expects 2012 to remain a challenging year.
The results came in contrast to rival firm TUI Travel (Other OTC: TTVLF.PK - news) , which owns Thomson and First Choice.
It said on February 7 that it significantly outperformed competitors in Britain during January.
Thomas Cook's future has been in question since it warned of a possible debt default and asked lenders to come to its rescue twice in five weeks.
The firm issued three profit warnings last year, and the crisis reached its highest point with the departure of chief executive Manny Fontenla-Novoa in August.
It now plans to sell its 77% stake in Thomas Cook India in an attempt to bring down its debts of £890m.
The day before posting the results, a Thomas Cook Airbus 320, bound for Tenerife with 175 passengers on board, was forced to do an emergency landing after taking off in Belfast.
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