TUI Travel: Demand for holidays remains strong
TUI Travel, Europe's biggest travel firm, said on Thursday that demand for package holidays remains strong and it was confident of meeting its expectations for 2008 and 2009, despite slowing economies.
The group, created last year from the tie-up of TUI AG's travel division and Britain's First Choice, reported a 39 percent increase in third-quarter underlying operating profit to 65.4 million pounds ($124.5 million).
Revenue rose by 9 percent to 3.6 billion pounds and the underlying operating margin was up 40 percentage points to 1.8 percent. TUI Travel said it has significantly fewer holidays left to sell for summer 2008 compared with last year.