The new boss of Thomas Cook pledged the company would turn a corner as the travel giant's turnaround plan pushed it to an "unacceptable" loss of £590m sterling.
The UK's second biggest travel firm is counting the cost of restructuring as it reorganises its UK business, cuts its aircraft fleet and sells off hotels
But Harriet Green insisted the wider headline loss for the year to September masked an improvement in the last three months.
Ms Green joined the company as chief executive earlier this year from electronics firm Premier Farnell.
Thomas Cook, which served 23 million customers last year, added summer trading ended strongly while bookings for the winter season were ahead of committed capacity.
The debt-laden group was last year forced to turn to its banks for an additional £200m of loans, sparking fears of a collapse.
