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French holidays are a boost for TUI Travel

Wednesday, 14 May 2008

French holidays are a boost for TUI Travel

Holidays in France have been a source of income for TUI Travel and a boost to their financial situation. The company has reported a diminishing of its losses this year, aided by better sales to France as well as improved results in Britain and Scandinavian countries.

TUI Travel is Europe's biggest travel firm and it had revealed a loss of £294m ($578m) for this year so far, as compared with a loss of £339m for the first half of last year.

TUI Travel had been set up in 2007 as a coming together of TUI AG's travel branch and the British company First Choice.

TUI say that the current economic situation has not spoiled the firm’s sales figures this year and chief executive Peter Long explained: "… that the annual holiday is an important component of the family budget".

TUI Travel also said that trading for the forthcoming winter period for this year going into 2009 had started well, with sales so far 15% higher in the UK.

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