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First Choice optimistic over summer outlook
At its AGM on Wednesday, First Choice said although bookings were 10% behind the same point last year, it was optimistic about the summer period ahead.
The company said sales had picked up in the past three weeks and were 18% ahead of the same period last year.
First Choice chairman Ian Clubb said: “The key dynamic to the market this year to date is that the majority of our customers continue to take overseas air inclusive holidays, but are choosing to book closer to departure. Since Christmas we have seen a strong recovery across all our businesses and we enter the summer period in an optimistic mood.”
First Choice said that it was particularly encouraged by the strength of the recovery in its specialist businesses, which reinforced its strategy of growing that side of the business. The company reported that bookings are cumulatively running at 2% ahead of last year. The company reported that it has seen a strong performance from Sovereign and First Choice Ski which had a very good winter 2001.
Having recently launched its Winter 2002 brochures, First Choice said early sales are very encouraging with the weekly rate of sale ahead of last year and margins in line with expectations.
However, the North American market continues to be slow in recovering. The company said that with the more significant Winter season already well advanced, the indications are that full season passengers will be around 40% less than last year.
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