United Kingdom
United States
Asia Pacific
MyTravel Summer 2004 bookings down
Bookings for summer 2004 are currently behind last year’s figures, MyTravel revealed today. The company claimed however that its bookings were “in line with the rest of the industry” and that margins are better than for summer 2003. MyTravel conceded that it could not return to profitability next year, but was working towards “significant improvement” in 2004 and a return to profitability the year after. The UK was responsible for most of this year’s disastrous performance, with an operating loss of £325.4million compared to a profit of £24.1 million a year earlier. The company said this was partly because of “poor pricing decisions” made the year before which led to lower margins on its brochure holidays than had been expected. It also blamed “cost control lapses” in its airline operation as well as weaker than expected summer trading due to the Iraq war and good summer weather. Chief executive Peter McHugh commented: “It is clear that we had significantly under-estimated the extent of the UK restructuring issues and the scale of the turnaround required is larger than originally envisaged.” Other relevant stories: 11-Dec-03: TravelMole Interview: Philip Jansen, MyTravel 11-Dec-03: Is MyTravel on the rocks? 11-Dec-03: MyTravel Summer 2004 bookings down
Related News Stories:
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled