Britain’s dismal weather is cheering for at least one industry: the travel sector. Tui Travel, the giant behind Thomson Holidays, said bookings are up as Brits look to escape the gloom.
Peter Long, chief executive, said: “It is miserable, and it’s been like that for ages. We’ve not had a spring. That’s why people are saying, my overseas holiday is sacrosanct. I need some sun.”
Bookings by Brits are up 5 per cent in the half year, with the Nordic and German market also doing well.
Tui made a loss of £346m in the first half, as usual, but will bounce back into profit in the second.
Mr Long sees little evidence that consumers are feeling more confident than a year ago.
“I don’t think they are. They are prioritising how they spend and a foreign holiday remains right at the top of the list,” he said. The interim dividend is up 10 per cent to 3.75p.