Finance

Sharm el Sheikh named 'the budget choice for Brits in 2023'

In its Holiday Money Index covering the 12 months to January 2023, Post Office Travel Money reported its top two currencies – the Euro and US dollar – made year-on-year sales gains of 66% and 38% respectively last month

UK-India start-up carrier Hans seeking fresh investment

The airline said fulfilling the ‘rightly stringent’ financial criteria required by the UK CAA to commence operations continues to hinder its launch plans

Tourism becomes second-fastest growing UK sector, data finds

In January, all 14 sectors monitored by Lloyds Bank’s UK Sector Tracker expect positive output growth in the next 12 months

Tui Group turn of year bookings exceed pre-pandemic levels

In the three months to 31 December 2022, the group said it benefited from continued passenger demand for holidays across its brands

Royal Caribbean Group reports record-breaking wave season

Demand for North American and European sailings continues to grow, despite the organisation posting a net loss of $500.2 million for the final quarter of 2022

On the Beach eyes bigger share of summer 2023 spoils as demand soars

The brand will funnel more capital into technology and its customer proposition to help it carry strong sales momentum into the summer months

Scottish port's £400m expansion plan to boost country's cruise calls

More than 25 cruise calls are currently scheduled in Aberdeen from April and September, with up to 12,000 tourists visiting the north east of Scotland

Wizz Air eyes return to profit as passenger numbers reach record levels

Despite expecting to make an overall loss in the 12 months to March, the carrier predicts it will return to profit in the next financial year

Jet2 to increase full-year profit forecast after demand soars

In a recent trading update, the company said reported winter 22/23 forward bookings have continued to strengthen throughout December and January

EasyJet holidays to upgrade growth plans as demand increases

The firm will continue to see new investment into marketing and advertising as part of the brand’s turn-of-year sale campaign

Manchester airport to close Terminal 1 as part of £440m refurbish

The instalment will fund new facilities, technology and equipment, as well as a new range of shops, bars, restaurants and airport lounges

Saga to enhance tailor-made product ahead of marketing push

The announcement comes as the over-50s travel and insurance group reported in a trading update as being on track to make an annual pre-tax profit of between £20-£30 million

Drop in disposable income will ‘negatively impact’ travel, survey finds

Customers’ disposable income has ‘significantly’ reduced over the past few months

Visa and Mastercard face legal challenge over fees

Card payment giants face class action over charges from UK businesses and trade organisations

Carnival Corp ‘accelerating’ towards profit as bookings near 2019 levels

The company said it has seen a ‘measurable lengthening’ in the booking curve across all brands after customer deposits hit a record $5.1 billion in the final quarter of 2022

Cost of living: How to manage the crisis this winter

Abta launches bespoke foreign exchange service for customers

Abta’s new Forex service, ABTA Travel Money, will offer customers a range of more than 60 currencies

Cost of living: Join TTG's free online support seminar

TTG Media has teamed up with Citizens Advice and Abta LifeLine to host an online seminar focused on providing support and advice for TTG readers during the cost of living crisis.

‘Helping agents gain commission and freedom is key,’ says PTS

Mark Sutton, managing director at Protected Trust Services, discusses how the business is supporting travel agents to help them recover and grow.

Brits ‘refusing to give up holidays’ despite cost-of-living crisis

New data has revealed three-quarters (76%) of British households preparing to go abroad in 2023 refuse to scrap their plans

Autumn statement a ‘pivotal point’ in travel’s recovery, says Abta

Abta and UKinbound set out a five-point plan on how the government can support the industry

Consumer spending on travel agents grows by nearly 50%

Last month, agent transactions grew by 44.6%, according to new data from Barclaycard

Ryanair's forward bookings ‘remain strong’ despite ‘adverse geopolitical events’

It comes after the carrier reported a half-year after-tax profit of €1.37bn, compared to a pre-Covid H1 profit of €1.15bn

Celebrity ‘confident for 2023’ despite cost of living crisis

Celebrity vice-president and managing director EMEA Jo Rzymowska tells TTG that while customers are seeking ‘value for money’, the line is yet to see the cost of living crisis impact business