Call for an instant quote 0345 90 80 161
Open Mon to Fri 09:00 - 17:30 | Sat 09:00 - 16:00 (GMT)
13 June 2017 07:22
Tui is the owner of Thomson
UK holidaymakers could face higher costs in the months ahead following the collapse in the pound, the owner of a major travel firm has warned.
Klaus Mangold, chairman of Thomson owner Tui, said that while efforts have been made to keep costs steady, the weakness of sterling means prices for consumers are likely to increase.
In comments made to the Press Association, he said destination costs are also rising in some parts of the world, including Italy, Spain and Greece.
Mr Mangold commented: "Y ou have to compensate it and I believe that we are making major efforts to do this and to make sure that ... we can offer our customers a reasonable pricing as far as destinations are concerned."
Rising inflation
In light of higher inflation, the expert said Britons already appear to be taking shorter breaks abroad. On average, he said holiday times have been scaled back slightly.
Over the six months to the end of March, Tui managed to achieve a 3.3% rise in revenues, to 6.38 billion euro (£5.4 billion). And the company reported that British bookings are still resilient despite the vote to leave the European Union last June.
Switching destinations
In light of terror incidents in Turkey and North Africa, some travellers have switched to different destinations.
Mr Mangold said: "A company such as ours, which has invested a lot over the last five years in hotels and in aircraft - to put it in a general way in fixed assets - is much better off to shift, as well, our customers potentially from one country to another if needed. And so I believe this is an advantage that we have."
In terms of the recent terror attacks which have hit Britain, he said a long-term downturn in demand for breaks in the UK is not anticipated.
While many consumers are shocked by the events taking place in countries like the UK and Germany, the expert concluded that people still have confidence that they can resolve their issues.
Along with flights and hotels, travel insurance is something people can shop around for before heading on overseas breaks.
14 July 2018
Too many passengers heading abroad this summer will be travelling without adequate protection for when an airline goes bust, a new study has shown.
[more...]
13 July 2018
The mother of Bradley Lowery has welcomed the news that a drug used to help treat her son will soon be made available for other patients on the NHS.
12 July 2018
British GPs have prevented thousands of strokes after learning how to better identify and treat a common heart condition, research has shown.
11 July 2018
London City Airport is considering lodging an application to increase flight and passenger numbers, its boss has revealed.
10 July 2018
Captain Harry Kane is leading England's unexpected bid for glory, and is hoping to inspire the next generation of footballers by going all the way in Russia.
07 July 2018
Experts have warned that a lack of rigorous testing of skin cancer detection apps is putting the public at risk.
06 July 2018
Easyjet has added to worries that travellers are set for a summer of chaos, revealing that nearly 1,300 flights were cancelled last month.
05 July 2018
Soaring temperatures across the UK have led to a surge of asthma sufferers calling a dedicated asthma helpline, a charity has revealed.
04 July 2018
Strikes across Europe led Ryanair to cancel over 1,000 flights in June, the budget airline has revealed.
03 July 2018
Sarcoma cancer is "more common than previously thought" with 15 people in the UK diagnosed with the illness every day, a charity has warned.
30 June 2018
The UK is set to scorch this weekend as the heatwave continues and temperatures stay well in the 30s.
29 June 2018
Passengers travelling to Heathrow this summer could continue to face lengthy queues, a top Home Office official has warned.