Saturday 21 October 2017

Sluggish UK holiday sales after Brexit hits travel giant TUI

Traditional UK holiday destinations, such as Blackpool, could be boosted by Brexit
Traditional UK holiday destinations, such as Blackpool, could be boosted by Brexit

Victoria Bryan

Europe's largest tour operator, TUI Group, said UK sales and bookings for the summer had slowed, hitting its shares on Monday.

The fall in sterling against the euro since the Brexit vote last June has made it more expensive for Britons to holiday overseas and "staycations" are enjoying renewed interest.

"There's no doubt that in the UK, times will be a little more tough in the future than they have been in the past," TUI CEO Fritz Joussen told analysts on Monday.

TUI's shares dropped 3.9pc, the biggest faller among European travel and leisure stocks, rival Thomas Cook fell 2.6pc.

Irish Independent

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