Thomas Cook to face new cutbacks Analysts at JPMorgan Cazenove have raised the prospect of £60m of restructuring costs in Thomas Cook's new financial year, which runs from October to September 30 2013. "I expect they will take a very determined and aggressive stance on what they can do," said Investec analyst, James Hollins. The turnaround process [in the UK] has been under way, but since Harriet and Michael have come in, I expect they will put their own thrust on it. Full-year results on Friday are expected to reveal a second year of hefty headline losses. Consensus estimates in the City point to underlying profits of £150m, but exceptional items will push the group into a pre-tax loss. Last year, Thomas Cook sought an emergency cash injection from its lenders after slumping £398.2m into the red. At the halfway stage in March, losses had reached £712.9m, although tour operators and airlines always make the bulk of their profits during the key summer season. So far Ms Green has the backing of the City, and analysts earlier this year welcomed the appointment of someone from outside the industry who could review some of the archaic structures and improve key areas such as online. Since the new chief executive's arrival, Thomas Cook has already pushed through a number of key measures to address the problems at the UK business in particular. In October, the tour operator announced it would axe 430 jobs at its UK airline and slim down its fleet of aircraft from 35 to 31. The group recently struck a deal with the low-cost carrier, easyJet, to block-book tens of thousands of seats on its aircraft - a move analysts believe signals a greater reliance on third-party carriers in future. "Over time they will be making more use of third- party airlines," said Charles Stanley analyst Douglas McNeill. Several senior directors have quit the troubled UK business in recent months as Peter Fankhauser, head of the holiday giant's operations in this country, prepares to unveil a new management structure later this week. Departures include Simon Robinson, head of Thomas Cook's retail joint venture with Co-operative Travel, and Ian Ailles, head of UK mainstream holidays. Ms Green has previously warned that she intends to break down some of the "silos" in the UK business that "create cost and confusion and mismanagement."