Tui half-year trading update imminent

Tui half-year trading update imminent

Tui Travel will reveal whether it has made further gains at the expense of rival Thomas Cook in a half-year trading update on Thursday.

Europe's biggest travel group posted a strong first quarter with summer 2012 bookings flat on the previous year, compared with a 14% decline in the overall market.

The solid performance came as Cook fought to restore its finances and reputation after racking up bigger first-half losses and being forced to turn to its banks for extra help.

Tui sought to capitalise on its rival's woes by publishing its own adverts saying: "Another holiday company may be experiencing turbulence, but we are in really great shape."

The Thomson/First Choice parent company's shares are up more than 40% since a low point in November as analysts favour Tui over its closest rival.

Tui's performance is being driven by demand for differentiated holidays, which made up 64% of UK bookings for the summer in the first quarter.


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