TUI exec says August trading in line, no Brexit shock
BARCELONA, Sept 27 (Reuters) - Trading at travel and tour group TUI (LSE: 0NLA.L - news) during August was in line with expectations, and bookings from Britain did not fall as much as expected after Britain's vote to leave the European Union, an executive said on Tuesday in Barcelona.
Like rival Thomas Cook (Frankfurt: A0MR3W - news) , TUI moved capacity to western Mediterranean destinations such as Spain this year after security concerns deterred travellers from popular summer destinations such as Turkey.
"We have had the biggest shift of capacity this year that we have ever had from the eastern Mediterranean to the western Mediterranean resorts," Tom Chandler, TUI's director of Fleet Management and Fleet Finance, said at the Istat Europe aviation conference, adding bookings for Turkey were down 40 percent this year.
TUI Group is due to give a trading update on Wednesday ahead of the end of its financial year, which runs until Sept 30. (Reporting by Tim Hepher; Writing by Victoria Bryan; Editing by Georgina Prodhan)