The newly appointed CEO of loss-making UK travel agency Thomas Cook has said that technology will be the key to the company’s recovery.

Yesterday, the company reported its latest financial figures yesterday, revealing a £96 million loss and a 6% decline in revenues, down to £2.3 billion.

Harriet Green started as CEO of the company on Monday. She joins the company from Premier Farnell, a Leeds-based electronic components distributor.

She told investment analysts that her background in the technology sector would help the company exploit multi-channel sales and marketing to stimulate its business. "There are many things that are actually very similar and in my view of business, all roads ultimately lead to technology," she said.

When Thomas Cook announced Green’s appointment in May, it said that during her time at Premier Farnell she created "a multi-channel operation where the majority of business is transacted through e-commere". E-commerce sales rose from 12% of revenue to 55% during her tenure.