March 26, 2014 / 7:21 AM / 4 years ago

TUI Travel says summer bookings in line with expectations

LONDON, March 26 (Reuters) - TUI Travel, Europe’s biggest tour operator by revenues, said bookings for its key summer period were progressing in line with its expectations, giving it confidence it would meet a target for annual profit growth of 7 to 10 percent.

The British group, which owns the Thomson and First Choice holiday brands, said on Wednesday that average summer holiday prices were up by around 2 percent and customers were booking more trips online.

“We have once again successfully demonstrated the flexibility and resilience of our business model enabling us to absorb the impacts of geopolitical events more effectively, including the ongoing turbulent political situation in Egypt,” Chief Executive Peter Long said in a statement.

Customers have taken fewer holidays to Egypt in recent years due to turmoil in the country. (Reporting by Sarah Young; editing by Kate Holton)

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