The company today reported underlying Q1 losses more than doubling to €83.6 million in its first quarter after an "unusually long, hot summer”.
But it insisted that the markets and airlines segment only accounts for about 30% of its business.
“Four years ago [hotels, cruise, activities and services in the destination] were a minor part of our business, and now 70% of our business is largely unaffected [by external market factors],” said chief executive Fritz Joussen.
“So our competitors who have not undergone a transformation will have huge challenges, and therefore we believe we are well positioned in a market which will be challenging this year.
