News

UK price hikes of about £20 per person have helped cut TUI northern Europe’s year-on-year first-quarter losses by more than a quarter.

Losses for January to March have been cut by 26% from 127 million euros to 94 million euros, while turnover rose by 16% from 727 million euros to 848 million euros.

TUI northern Europe chief executive Peter Rothwell said: “Prices in the UK needed to rise. Our contracting costs increased, so it was important those rises came through.”

Rothwell said a more diverse programme, including long-haul product, had also played its part in the higher prices.

He said he remained “positive” about the UK’s outlook but his “biggest concern” was the euro.

Overall, the German group cut pre-tax losses in the three months by 26.6% to 185 million euros.