Belfast Telegraph

Travel giant Thomson sees a cut in losses

By Ravender Sembhy

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 €308.6m (£261m) in the six months to March 31, an improvement on the €394.9m in the same period last year. Revenue rose 3.3% to €6.38bn (£5.4bn) 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 the prior year."

The firm said in the UK current trading shows an 8% rise in revenue, with 65% of programmes sold. It 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. It said it was "well-placed" to deal with challenges.

Belfast Telegraph

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