Travel firm Thomas Cook aims to boost profits by more than €380m in the next three years by moving more of its operations online and further cutting costs,.
A strategy update from Chief Executive Harriet Green sent its shares up more than 15% to their highest in 19 months.
The 172-year-old group has struggled over the last two years with a slump in sales that has forced it to renegotiate bank loans and sell off planes and retail outlets to lighten its debt load.
Since travel industry outsider Green took over as CEO last summer, she has identified £160m of cost savings through measures such as merging its airline businesses. She said she had earmarked a further £50m of cost cuts.
With previous management having announced savings of £140m in 2011, that takes taking total annual savings to £350m by the end of 2015.
Green is targeting sales growth of at least 3.5% a year by 2015 as part of the plan, under which the world's oldest tour operator will simplify its business and place a greater emphasis on selling holidays online.
"We need to move from turnaround to transformation now and create a simplified, restructured business, which translates our strengths into profitable growth," Green told reporters.
Thomas Cook last week announced plans to cut 2,500 UK jobs and close 195 stores in Britain as it seeks to restore its UK business to health.
Last year, the company sought 23 redundancies from its 73-strong Irish workforce, based in Dublin. It shut its remaining stores in Ireland in 2009 and now operates in Ireland under a number of brands including Panorama and Sunworld, which are marketed through travel agencies, and online.
Thomas Cook, a quarter of whose 2012 sales are already made on the web, will focus on driving more online sales to help it catch rival TUI Travel, which last year made a third of its sales via the web.
The company has lately been boosted by a rise in fixed-price holiday bookings as cash-strapped Europeans opt for risk-free deals in a volatile economic climate.
