Belfast Telegraph

Thomson owner's losses narrowing despite Brexit

Losses at Thomson owner Tui narrowed in the first half of the year, with the company saying British bookings remained "resilient" despite Brexit.

Europe's biggest tour operator posted a group loss of 308.6 million euro (£261 million) in the six months to March 31, an improvement on the 394.9 million euro in the same period last year.

Revenue rose 3.3% to 6.38 billion euro (£5.4 billion) with chief executive Fritz Joussen again pointing to a "challenging environment".

Tui added: "In the UK, despite the backdrop of Brexit, demand for our holidays remains resilient with the percentage of the programme sold in line with prior year."

The firm said that in the UK, current trading shows an 8% rise in UK revenue, with 65% of programmes sold.

The firm added that it expects to record a 10% increase in underlying earnings for the full year.

However, in line with other tour operators, Tui said demand for travel to Turkey and North Africa is lower.

"Whilst the turbulent macroeconomic and geopolitical backdrop is evident in certain destinations and markets, our operational experience, integrated model and balanced portfolio of markets and destinations mean that we are well placed to deal with these challenges and continue to deliver sustainable growth into the longer term," the company said.

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