MyTravel forward bookings ‘a cause for optimism’

Thursday, 28 Nov, 2002 0

Positive bookings for next Summer provided a glimmer of silver lining in MyTravel’s disasterous financial results. Overall charter bookings for Summer 2003 were 40 percent ahead year-on-year.

Forward bookings were buoyed by growth in UK and Northern Europe markets, which reported bookings for Summer 2003 to be ahead year-on-year by 42 percent and 22 percent respectively.

MyTravel has sold 46 percent of its Airtours bedstock for Summer 2003, compared to 23 percent last year, and 35 percent the year before that.

The Group said it had secured early bookings by allowing customers to defer their deposit. MyTravel claims it has received deposits from 86 percent of customers and only four percent of its brochure customers have cancelled bookings.

The operator also said it increased the proportion of in-house sales, with 90 percent of UK Summer 2003 bookings distributed through its own retailers, compared to 66 percent last year. However, a statement said: “It is anticipated that the level of in-house distribution will reduce over the rest of the year”.

Chairman David Crossland (pictured) said the level of bookings acheived in 2002 was giving him cause for optimism.

In a statement MyTravel said it was most optimistic for significant recovery in Northern Europe and growth in North America, but was anticipating further, but reduced, losses in its German market.

Bookings for this Winter are two percent behind in the overall charter market. This breaks down to seven percent behind year-on-year in the UK, and nine percent behind year-on-year in Northern Europe.

Read our previous stories:
28-Nov-2002 Jardine leaves MyTravel following ‘worst year in history’
26-Nov-2002 MyTravel delays results
22-Nov-2002 Lastminute records first profit
05-Nov-2002 Comment on MyTravel, by Jeremy Skidmore
28-Oct-2002 MyTravel tries to quell ‘consumer hysteria’
21-Oct-2002 Carrick makes robust defence of MyTravel
18-Oct-2002 Rivals consider switching off MyTravel
08-Oct-2002 Byrne to leave MyTravel
30-Sept-2002 MyTravel issues profit warning despite positive bookings