TUI Travel has said it was on track to meet earnings expectations for the full-year and should deliver a strong performance in its key summer trading period.
The world’s biggest tour operator reported bookings are well ahead of last year.
Business has picked up in the UK. That helped offset a sluggish performance in France, which has seen weak demand for holidays to destinations in North Africa in recent months.
“Demand for leisure travel is growing, and we have seen an improved summer 2012 trading performance in all mainstream markets except France, which has been hit by the slow recovery of popular North African destinations, especially Egypt,” TUI Travel Chief Executive Peter Long told reporters.
The group, which owns Thomson and First Choice, has benefited from difficulties experienced by main rival Thomas Cook, which issued a string of profit warnings last year as civil unrest in North Africa and the economic downturn in Britain hurt bookings.
Thomas Cook last week secured a three-year refinancing lifeline worth 1.4 billion pounds (1.73 billion euros), giving it more time to turn the business around.
- 1Former Greek finance minister confirms there was a secret ‘Grexit’ plan
- 2Golden shot: China shocks the commodities market with reserves revelation
- 3Fiat Chrysler recall 1.4 million vehicles in the US over hacking fears
- 4Oil price stability on the horizon as companies cut jobs and costs
- 5Microsoft says Windows 10 is a “new era” in personal computing
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Russia unveils ‘straight’ flag, internet responds
- 3Seven reasons why Yanis Varoufakis is now a political legend
- 4Greek crisis: ‘Agreement reached’ after marathon talks
- 5International news | euronews, latest international news
- 6Nasa announces the discovery of an earth-like planet
- 7Is Saudi Arabia outlawing rainbows for being gay?
- 8Pluto: New Horizons space probe provides closest-ever pictures
- 9French actor Gérard Depardieu ‘a threat to Ukraine national security’
- 10Latest News Bulletin
- 11BREAKING: Formal nuclear deal reached with Iran, says diplomat
- 12International breaking news | euronews online world breaking news in video
- 13Greece votes ‘No’ in overwhelming rejection of bailout proposals
- 14Berlusconi linked with a shock return to government – in Russia!
- 15At least 10 dead in explosion in Turkish town close to border with Syria
- 16Greece clinches deal with eurogroup after marathon talks
- 17‘Imposed’ bailout deal must be implemented, says Greek PM
- 18Israel angry as Iran and West talk up nuclear deal
- 19Varoufakis resigns after Greek referendum
- 20European Union News | euronews: latest breaking news and headlines about European Union
Wires > Business
- 08:55 CET Pacific Rim free trade talks fall short of deal
- 08:51 CET Serious Fraud Office launches investigation into British oil firm
- 05:43 CET E&Y Japan arm launches internal probe of Toshiba audit
- 05:29 CET China July factory growth unexpectedly stalls – official PMI survey
- 01:12 CET Analysts forecast 235 million pound first-half pretax profit for…
- 01:01 CET Tumbling oil prices slam profit at Exxon Mobil, Chevron
- 00:25 CET Yahoo buys fashion website Polyvore
- 22:51 CET Uber valued at about $51 billion after latest funding round – WSJ