Brexit had 'no impact' on bookings says Tui chief

Brexit had 'no impact' on bookings says Tui chief

Tui has seen "no impact" on UK bookings following the referendum vote to leave the EU in June.

Chief executive Fritz Joussen reported “a very strong performance in the UK" as he announced third quarter results for the group this morning.

He insisted: "There has been no apparent slowdown of bookings after the referendum.

"We saw no significant slowdown in the UK. We don’t see a change in booking patterns after the referendum. People want to travel."

Sterling has fallen by almost 10% against the euro since the vote . Joussen said: "Yes, the pound has changed against the euro, but historically by not so much."

Asked whether the changed exchange rate would mean higher prices next summer, he said: "Yes, there will be some price increases, but the last three years there were no increases. It won’t be that bad.

"Some price increases will be competed away. Capacity has to be filled."

He added: "I think we will see growth in the UK next year. There is strong demand. People want to travel.

Tui reported an underlying operating profit of €180 million for the three months to the end of June, up 1% on last year. Turnover for the nine months to June was down almost 1% to €11.39 billion.

Joussen said: "We had a lot of events now, in Paris, in Brussels, in Nice. It’s a difficult environment, but an environment [in which] I see our business model providing some advantages and resilience."

Tui's profit forecast for the 12 months to September remains unchanged, despite the annual revenue forecast being lowered from growth of 3%-5% to 2%-3%.


This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.

More in News