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Tui Travel Share News (TT.)
Share News for Tui Travel (TT.)
| Share Price: 371.80 | Bid: 371.30 | Ask: 371.60 | Change: 0.00 (0.00%) |  | ||||||
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German travel firms says Greece bookings plunge
Tue, 22nd May 2012 13:03
FRANKFURT, May 22 (Reuters) - There was more bad news for beleaguered Greece on Tuesday, as tw
Reports of animosity and even violence towards Germans over the hard austerity measures demanded by Chancellor Angela Merkel in return for bailouts, as well as fears of strikes, are keeping the world's biggest spenders on foreign holidays away from Greece.
Air Berlin, Germany's second largest airline, and Rewe, the retail and tourism group both said on Tuesday that bookings to Greece were around 30 percent below that of last year.
Tourism is a vital source of income for Greece, accounting for about a fifth of gross domestic product.
'Greece is doing very badly, just like North Africa,' Air Berlin Chief Executive Hartmut Mehdorn said.
Rewe Tourism chief Norbert Fiebig said Germans were instead choosing to travel to other places like Turkey, echoing comments from Thomas Cook Germany, which has said Spain is also proving a popular alternative.
Other travel groups like TUI AG and Thomas Cook's Germany-based airline Condor have already announced offers and discounts to try to stem the fall in bookings.
(Reporting by Gernot Heller and Matthias Inverardi; writing by Victoria Bryan; Editing by Will Waterman) Keywords: GERMANY/GREECE TOURISM
(victoria.bryan@thomsonreuters.com)(+49 69 7565 1235)(Reuters Messaging: victoria.bryan.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
FRANKFURT, May 22 (Reuters) - There was more bad news for beleaguered Greece on Tuesday, as tw
o more German travel firms said they were seeing a 30 percent plunge in bookings to the Mediterranean nation.
Reports of animosity and even violence towards Germans over the hard austerity measures demanded by Chancellor Angela Merkel in return for bailouts, as well as fears of strikes, are keeping the world's biggest spenders on foreign holidays away from Greece.
Air Berlin, Germany's second largest airline, and Rewe, the retail and tourism group both said on Tuesday that bookings to Greece were around 30 percent below that of last year.
Tourism is a vital source of income for Greece, accounting for about a fifth of gross domestic product.
'Greece is doing very badly, just like North Africa,' Air Berlin Chief Executive Hartmut Mehdorn said.
Rewe Tourism chief Norbert Fiebig said Germans were instead choosing to travel to other places like Turkey, echoing comments from Thomas Cook Germany, which has said Spain is also proving a popular alternative.
Other travel groups like TUI AG and Thomas Cook's Germany-based airline Condor have already announced offers and discounts to try to stem the fall in bookings.
(Reporting by Gernot Heller and Matthias Inverardi; writing by Victoria Bryan; Editing by Will Waterman) Keywords: GERMANY/GREECE TOURISM
(victoria.bryan@thomsonreuters.com)(+49 69 7565 1235)(Reuters Messaging: victoria.bryan.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
UPDATE 2-Thomas Cook flags return to dividends after refinancing
* To raise 425 mln stg via rights issue and placing* Expects to raise 441 mln stg in bond issue* Agrees new 691 mln stg banking facility* H1 pretax lo[Thu 10:48]
UPDATE 2-TUI AG CEO shakes up group in drive for dividend
* Cuts costs at TUI AG headquarters in Hanover* Underperforming hotels, cruises to be restructured* Sees underlying EBITA of around 1 bln eur by 2014/[Wed 08:05]
TUI AG CEO says no plans for merger with TUI Travel
FRANKFURT, May 15 (Reuters) - TUI AG has no plans to merge with London-listed unit TUI Travel, the German company's chief executive said on Wednesday.[Wed 06:07]
TUI AG cuts costs in drive to pay out dividends
FRANKFURT, May 15 (Reuters) - German tourism group TUI AG will cut costs and align its hotels business more closely with that of unit TUI Travel as p[Wed 05:08]
UPDATE 1-TUI Travel sees strongest summer demand in six years
* Says 58 percent of summer holiday programme sold* Sees full-year profit rising by at least 10 percent* Posts first-half operating loss of 289 mln po[10 May '13]
TUI Travel says strong summer to drive 10 pct profit rise
LONDON, May 10 (Reuters) - TUI Travel, the world's largest tour operator, forecast a full year profit rise of at least 10 percent, driven by strong t[10 May '13]
UK's Thomson Airways to start Dreamliner flights in July
LONDON, April 30 (Reuters) - TUI Travel's Thomson Airways said it would start using its first Boeing Dreamliner on services from Britain to the Unite[30 Apr '13]
Irish firm eyes stake in UK aviation air traffic control
DUBLIN/LONDON, April 19 (Reuters) - Ireland's semi-state air traffic control operator said it had expressed an interest in buying a stake in its Briti[19 Apr '13]
