TUI’s bookings show collapse in European travel
4 years, 4 months ago

TUI’s bookings show collapse in European travel

CNN  

London CNN Business — Europe’s summer tourist season may be officially past saving. “It is desperately worrying to see a further decline in prospects for air travel this year, and the knock-on impact for employment and prosperity,” IATA’s Europe vice president, Rafael Schvartzman said in a statement. “The confusing patchwork of bans, quarantines and uncoordinated international testing and tracing measures, have deterred many people from traveling at all with the peak summer 2020 travel season all but being wiped out,” it added. Given its “inherently global nature,” travel and tourism represents one of the world’s most “integrated and interdependent supply chains,” said James Gellert, the CEO of RapidRatings, which analyzes the financial health of companies worldwide. “Everyone is affected by a reduction in travel, whether you’re destination dependent like hotel groups and restaurants or product and service providers to the companies in the travel and leisure markets,” he told CNN Business.

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History of this topic

Tui sees rise in profits as travellers choose holidays to cheaper destinations
4 weeks, 1 day ago

Tui sees rise in profits as travellers choose holidays to cheaper destinations

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy An unrelenting appetite for travel has increased profits for Europe’s biggest holiday company, Tui. The company …

Travel organization TUI in trouble; €3 billion loss this year
4 years ago

Travel organization TUI in trouble; €3 billion loss this year

NL Times  

The TUI Group lost over 3 billion euros in its past financial year, largely due to the coronavirus and accompanying travel restrictions putting severe pressure on the travel organization's turnover and profits. As a result, the company's turnover in the financial year from October 2019 to September 2020 amounted to only 8 billion euros, with a loss of more than …

Tui lost £1bn during coronavirus shutdown but remains optimistic
4 years, 4 months ago

Tui lost £1bn during coronavirus shutdown but remains optimistic

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Europe’s biggest holiday company lost €1.1bn during April, May and June as the coronavirus pandemic took …

Global tourism faces challenges on its journey to full recovery
4 years, 4 months ago

Global tourism faces challenges on its journey to full recovery

China Daily  

An aerial photo taken on May 30 shows a blue-flagged beach south of Athens. On July 28, the United Nations World Tourism Organization highlighted the enormous toll that the coronavirus pandemic has wrought on the global tourism sector, both in terms of tourist numbers and revenues. The latest edition of the UNWTO World Tourism Barometer shows that lockdown restrictions imposed …

Nearly half of travel, tourism firms staring at complete shutdown risk in next 3-6 months; resumption of flights revive hopes: Report
4 years, 7 months ago

Nearly half of travel, tourism firms staring at complete shutdown risk in next 3-6 months; resumption of flights revive hopes: Report

Firstpost  

The report said that 81 percent travel and tourism companies have lost their revenue up to 100 percent while 15 percent of the companies have witnessed it slide up to 75 percent. Mumbai: Around 40 percent companies operating in the travel and tourism sector are staring at the risk of complete shutdown over the next 3 to 6 months, says …

TUI could cut 8,000 jobs as it prepares to restart tours in Europe
4 years, 7 months ago

TUI could cut 8,000 jobs as it prepares to restart tours in Europe

CNN  

London CNN Business — TUI, the world’s biggest tour operator, has announced plans to scale back its global operations and cut up to 8,000 jobsas it prepares for a weaker travel and tourism market following the coronavirus pandemic. “TUI is ready for an early resumption of travel activities in Germany and Europe,” the company said in a statement Wednesday, adding …

COVID-19 pandemic could cost millions of jobs in global tourism industry: UN body
4 years, 8 months ago

COVID-19 pandemic could cost millions of jobs in global tourism industry: UN body

India TV News  

Millions of jobs in the global tourism industry could be lost due to the COVID-19 pandemic, which has impacted travel like no other event in history and caused 96 per cent of all worldwide destinations to introduce restrictions in response to the outbreak, the World Tourism Organisation has said. Almost all global destinations have imposed restrictions on travel since January …

COVID-19 pandemic puts 75 million tourism jobs at risk: WTTC
4 years, 9 months ago

COVID-19 pandemic puts 75 million tourism jobs at risk: WTTC

China Daily  

Asia-Pacific is expected to the hardest-hit region with nearly 49 million travel and tourism jobs at risk. The COVID-19 pandemic is likely to put some 75 million jobs in the global tourism industry at risk, resulting in a loss of $2.1 trillion in travel and tourism GDP to the world economy, according to the latest research by World Travel & …

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