"Europe's largest tour operator said UK summer bookings have fallen by 10pc, with consumers delaying decisions, switching destinations and showing increasing caution over overseas travel."
"Tui said the affected ships have now safely departed during a temporary pause in hostilities and are expected to begin Mediterranean summer itineraries from mid-May."
"The company also disclosed it has suffered a combined €61m (£53m) financial hit from the Iran conflict and hurricanes in Jamaica, as geopolitical instability and extreme weather disruptions weigh heavily on the travel industry."
"Holidaymakers have increasingly moved away from destinations in the eastern Mediterranean in favour of perceived safer locations in the western Mediterranean, while many customers are booking trips far closer to departure dates."
TUI Group reported a sharp slowdown in summer holiday demand from British travellers. UK summer bookings fell by 10% as consumers delayed decisions, switched destinations, and became more cautious about overseas travel. Revenues from tours and airline operations for the summer season were down 7% overall, with the UK market particularly weak. The company attributed the deterioration to shifting consumer behaviour after conflict involving Iran, Israel, and the United States earlier in the year. Demand moved away from the eastern Mediterranean toward perceived safer western Mediterranean locations, and many trips were booked closer to departure dates. TUI also reported a combined €61m financial hit from the Iran conflict and hurricanes in Jamaica, including €40m from repatriating about 5,000 passengers from cruise ships in Abu Dhabi and about €21m from hurricane-linked losses.
Read at London Business News | Londonlovesbusiness.com
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