TUI reveals Brexit contingency plans
London – 13 December 2017 –
European tourism group TUI is putting contingency plans in place for Britain’s exit from the European Union, aiming to address potential problem areas such as flying rights, visa requirements and changes in demand, Reuters reported.
“Whilst we are not able to control the outcome of these (Brexit) negotiations, we are putting contingency plans in place in order to manage potential disruption to our operations,” it said.
CEO Fritz Joussen said if certain destinations became more expensive for Britons due to a fall in sterling then demand could shift to cheaper countries, and the group had already increased hotel space in places such as Bulgaria and Croatia.
He said UK customers typically spent around 1,000 pounds (US$1,300) on their holidays and TUI had seen a slight weakening of demand for long-haul destinations.
It is not yet clear what flying rights will apply to carriers once Britain leaves the bloc, though airlines have said they need clarity by October next year at the latest.