News

MYTRAVEL is expecting a “significant turnaround” in the performance of its UK businesses next year after admitting it has just had the worst year in its history.

It described UK booking trends as encouraging and has set a target of recovering two-thirds of the reduction in its 2002 UK operating profit.

MyTravel blamed disappointing UK charter bookings for this winter (2002/03) - down 7% year on year - on weak market conditions.

It also confessed recent bookings for its specialist businesses in the UK had been “temporarily affected” by a fall in support from third-party retailers. Rival chain Lunn Poly refused to rack any MyTravel products and others are thought to have reduced their support.

But MyTravel said its August and September retail campaign to encourage early bookings and reduce exposure in the

lates market had boosted trade in the UK.

Its end-of-year results statement said: “The outlook for the UK business reflects our success in securing additional share of the early booking market. This increases our utilisation of committed capacity and achieves better selling prices.”

Summer 2003 bookings are currently 31% ahead of last year, or 42% if promotional bookings are included.