Tui Travel, the largest tour operator in Europe, has announced that renewed interest in the travel market has forced them to schedule more holidays for the summer, with the resulting financial windfall hopefully signaling an end to the economic crisis which has plagued operators for the past year and a half.
Established in 2007 by the collaboration of British group First Choice and TUI AG’s, Tui Travel claimed that the first improvements for months in operating profit/ loss figures should have the industry eagerly watching the next few months. The biggest growth region geographically was Scandinavia, where summer bookings have risen [...]

It now seems that TUI Travel has finally been able to beat the recession and reported an 11 percent increase in underlying operating profits to £443 million for the year ended September 30th, 2009. TUI Travel, which is Europe’s biggest tour operator, showed that its revenues stayed the same at £13.8 billion, while its underlying earnings per share increased 17 percent to 23.8p.
This big announcement comes just after Tomas Cook, back on November 30th of this year, reported underlying pretax profits for the year to September of £308.2 million. Chief executive of TUI Travel, Peter Long, said that [...]

The well known UK holiday company TUI Travel has now come forward to announce that it has taken measures to help itself refinance a £900 million pound shareholder loan. This called for the cancellation of 10 of the 23 orders the company had with Boeing for its 787 Dreamliner.
These refinancing measures went as far as to raise £440 million by way of convertible bonds and additional bank facilities. The company also deferred repayment of a £150 million shareholder loan past 2011. The group went on to say, as a kind of trading update, that the booking volumes for the winter [...]

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TUI Travel has indicated that the managers of their retail shops will be empowered and trained to directly resolve any complaints made by customers. The plan is that the shops of First Choice and Thomson Holidays may start to handle their own customer complaints by late this year through the empowerment of staff at 880 TUI Travel shops across the United Kingdom. The move by the travel company is a result of a review done on customer service in December.
Right now, all customer complaints are handled through a central customer service center, and this is probably going to [...]

TUI Travel, the largest tour operator in Europe, anticipates to meet profit expectations this year, even though the number of holidaymakers booking breaks has declined due to a forced price increase and cut in capacity. Peter Long, the Chief Executive of TUI Travel, has admitted that the business has seen demand for holidays flatten. However, he said that the decision to cut back on the number of offered holidays has left them in a good position.
In the United Kingdom, the volume for charter holidays that were booked for the winter season dropped by 12%, but the average price [...]

Lufthansa has given confirmation that they are in discussions with Thomas Cook and TUI Travel on a potential merger between the 3 companies’ carriers. If the merger is successful, it will bring Condor (owned by Thomas Cook), Germanwings (owned by Lufthansa), and TUIfly (owned by TUI Travel) together, in which Lufthansa will have a hold of 25%, creating an airline to rival Ryanair, easyJet, and Air Berlin. Thomas Cook and TUI Travel have issued identical statements that confirm the discussions on Thursday, noting that they have not yet made any commercial terms to the deal, and there is [...]

Thomas Cook is in talks with Tui Travel, their rival, and Lufthansa of a potential merging with their budget and charter airlines, which is a move that will develop a new rival to compete with Air Berlin, easyJet, and Ryanair. In the most recent example of how the record high cost of fuel is forcing the restructuring of the aviation industry in Europe, Air Berlin, easyJet, and Ryanair said that they were in discussions of joining Germanwings, Tuifly, and Condor. Tui Travel and Lufthansa have been looking at a variety of merger options. Thomas Cook joined in [...]

TUI Travel has given a much needed push to the United Kingdom leisure market following their claim that they have not seen any signs of demand slowing in spite of the credit crunch and consumer downturn. As the biggest travel operator in Europe, TUI Travel revealed a 39% rise in their underlying operating profits with 65.4 million pounds on the back of their average holiday prices rising 13%. Peter Long, the Chief Executive of TUI Travel, said that he was happy with their results, which follow the merger from last year of First Choice and Thomson Holidays. [...]