Difficult UK trading conditions for TUI and First Choice
Prospective partners TUI and First Choice have reported summer sales declines from the UK as they prepare to finalise their merger by September.
TUI Tourism said its Northern Europe division has experienced a drop in bookings due to “difficult market conditions” in the UK and Ireland. Overall revenues at the German company are up by 2.8% with passenger numbers up by 7.8%.
First Choice said its mainstream holidays sector has performed “in line with expectations in what remains a challenging market”.
The operator reported short haul holiday revenues down by seven per cent on lower volumes of five per cent based on a five per cent cut in capacity for this summer.
Revenues and volumes are flat for medium haul holidays, while long haul, where capacity has been increased by a quarter, has seen revenues rise by 26% on volume growth of 22%.
First Choice reported sales of specialist holidays up by 18%, activity holidays up by five per cent, adventure holidays up by seven per cent and up two per cent in its marine businesses.
The group’s online destination services sector has seen sales up by 50% and bednights up by 30% with margins ahead of last year.
The prospectus for the proposed merger is due to be posted to shareholders next week with the listing of the newly-formed TUI Travel expected on September 3.
by Phil Davies
Phil Davies
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