TUI Travel Pay for Deals and Debt £490m
Wednesday, September 30, 2009 6:21Peter Long, the Chief Executive, is the focus on Russia, the expansion plans in the country’s growing middle class want to the sun and sea package holidays, such as Egypt and Turkey, countries and regions in order to promote bilateral cooperation in TUI’s market share, it does not have a digital one or two positions.
His aim is to build from the fourth TUI’s position in Russia, through acquisitions and organic growth of the largest tour operators. So far, the Russian tourists have been in favor of the traditional European package of Turkey, Greece and visa requirements, since the Spanish holiday resort.
TUI: the stocks, charts, data, “When they become more self-confident visitors to Spain and Greece, the market will grow,” Mr. Long said.
He hoped that the £ 100 m and between 150 million pounds a year for acquisitions, while around 120 million pounds this year.
TUI Travel will also begin to repay from the German TUI Group, owns 51.6pc of the company’s market share in loans ahead of schedule. TUI holiday loan arrears and £ 900 after TUI and TUI Tourism and British tour operators in 2007, the first choice of the merger time € 20 billion (1.8 billion pounds).
TUI Travel is to improve the convertible bonds of £ 350 m, and agreed to borrow the five banking groups, another 140 million pounds.
The company said sales this summer has reached its forecast full-year results were expected by the end of September in line with expectations.
Mr. Long said he was more in summer than the winter holidays in 2010 are optimistic, but he said sales of TUI Travel preparing to cut holiday time, and if the consumer confidence index fell again.
“Summer is a major holiday and people think ‘I must be’ winter vacation is not so important,” Mr. Long said. Bad weather in the UK this summer will also contribute to a warm place to booking next year, he said.
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