Investors’ eyes on Tui as Britons change holiday destinations

WEEK AHEAD

TRAVEL giant Tui will update the market on how demand for holidays abroad are holding up when it reports first quarter figures this week.

The European travel industry has been finding its footing after the collapse of competitors including Monarch in the UK and Air Berlin in Germany, with the likes of easyjet, Wizz Air and British Airways picking up remaining assets or landing slots.

Tui said last year it took a hit after Air Berlin fell into administration, as it was forced to renegotiate a string of flight agreements.

Tui’s peers have also flagged up profit pressures amid a price war in Spain, as tourists continue to avoid destinations such as Egypt and Turkey due to terrorist attacks and political unrest.

The company, which ditched the Thomson name in the UK in October as part of a global rebrand, Wednesday

Dewhurst, 8.50p; Dewhurst, 8.50p; Puma VCT 9, 6p; Puma VCT 10, 6p; Tharisa, 3.7135p.

Thursday

Anglo Pacific Group, 1.50p; Cardiff Property, 11.50p; easyhotel, 0.22p; Euromoney

last reported a 12 per cent jump in underlying earnings to €1.1 billion for the Institutional Investor, 21.80p; Income & Growth VCT, 3p; On the Beach Group, 1.90p.

Friday

Autins Group, 0.80p; Baring Emerging Europe, 19p; CC Japan Income & Growth Trust, 2.30p; Consort Medical, 7.44p;

year to September 30. It also said the firm was set to grow annual earnings by at CYBG, 1p; Dunedin Smaller Companies Investment Trust, 4.24p; Fletcher King, 1p; Investment Co, 5p; North American Income Trust, 8p; Shaftesbury, 8.10p; Solid State, 4p; Third Point Offshore Investors Ltd, 77p; Tracsis, 0.80p; Victrex, 114.10p.

least 10 per cent again in the new financial year and for each year to 2020.

Tui warned last year Britons were starting to cut back on long-haul holidays and some European resorts as the weak pound is making trips more expensive.

Britons still spend about £1,000 on their foreign holiday, but are changing destinations due to poor exchange rates, the firm said. Tui reported it was seeing a record number of UK bookings as holidaymakers choose alternative destinations such as Croatia and Bulgaria, and forecasted another strong year for bookings.