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Tui reports loss
Tuesday February 9, 2010 - Email this article to a friend
The travel company owns many ski companies and a downturn in winter business has had an impact on overall sales.
TUI Travel's losses were £72 million in the quarter ending December 31st last year, according to the travel web site Travel Mole.
The group also attributed the increased loss to a tough comparative period, particularly for winter holidays including ski and snowboard holidays.
However, the company claims winter 2009-10 bookings and prices have continued to strengthen for the remainder of the season.
"Our flexible business model allowed us to manage the impact of the first full winter season since the height of the economic downturn by ensuring demand was in line with profitable supply," says Chief executive, Peter Long.
Tui runs Crystal the largest British ski tour operator that cut its chalet capacity by 40% last winter.
It also runs Thomson and First Choice.
"As anticipated, trading has been difficult, especially against a tough comparative period, but sustained improvements in demand over a number of months leave us more confident that the worst is behind us," adds Long.
UK winter season trading between November 22 and the end of January was running at 1% down.
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