Writing in the company’s annual report, executive chairman Philip Meeson said both factors “lead us to conclude that in the medium-term prices are likely to come under some pressure”.
However, he said the package holiday was “a higher yielding, resilient and popular product in difficult economic times, and the Mediterranean and Canary Islands are evergreen destinations where people absolutely want to go”.
He added: “The control of our own seat supply and our frequency of flying allow us to offer truly variable duration holidays, critical in allowing our customers the ability to flex their holiday arrangements to suit their individual budgets.”
