Borders Group News: 41 million euros in losses, but already showing signs of recovery
Wednesday 09 December 2009
The group Nouvelles Frontieres, a subsidiary of TUI Travel PLC, today announced its results for the year 2008-2009. As expected, they are not good. The group posted a loss of 41 million euros (as against an operating profit of 11.2 million euros the previous year), and a turnover of 900 million euros, down 17.4% .
The group said that its two main sectors - tourism and air-have been very affected by the decline in consumption and the succession of crises in the West Indies, Madagascar and Mexico, which occurred in full high season and third of 'fiscal year. Thus the number of passengers decreased by 22.5% to 1.085 million. The group's president of the Executive Group, Jean-Marc Siano said that, despite everything, the group wants to maintain its strategy.
New Frontiers remains optimistic for the winter season and the 2009-2010 fiscal year, noting already taken reservations. In fall 26% in late September, they settled in
-3% Late November, and the number of bookings for departures between late December and early March 2010 would be higher than last year.
To boost its business, the tour operator multiplies partnerships - Carlson Wagonlit Tourcom ... - placing on the Internet with the arrival of a new director for new-frontieres.fr since early November, Peter Pelissier, and then launches an application i -Phone.
Source: Borders Group News