Feb 11, 2020

Tour operator Tui takes record bookings as it grabs market share

Tui, the world's largest tour operator, said it had its highest volume of bookings ever in January as it took market share following the collapse of its major rival Thomas Cook. Tui has moved fast to take advantage of the capacity left after Thomas Cook went into administration in September, taking on the contracts of former Thomas Cook hotels around the Mediterranean, particularly in Turkey, and adding 21 additional aircraft to its fleet. Tui had 15 of the Boeing jets on order when two fatal crashes caused them to be grounded last year and said it had secured an additional 34 planes to cover the loss of capacity this year. Tui confirmed on Tuesday that it expected to get some compensation from Boeing this year although Mr Joussen warned: "It will be a matter of negotiation and a matter of agreement how much is paid in cash, how much is paid in future deliveries." Last week, Tui sold half of its interest in Hapag-Lloyd Cruises to Tui Cruises, the company that holds its joint venture with Royal Caribbean.

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