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beyond Europe, presumably assuming quarantine restrictions are removed. Half of Scots who do intend to travel abroad this year intend to visit Spain. Significantly, the research

found strong support for ‘vaccination passports’. Four out of five respondents (78%) agreed with introducing vaccination passports “to allow people to travel or attend large events”. For now, one in two

respondents (49%) said they were not thinking about a holiday or would not plan one for some time. By contrast, 12% were “desperate to take a holiday”, domestic or overseas, 16% “keen for a holiday in summer”, and 23% planning a holiday “later in the year”. Seven in 10 (70%) said they

were likely to take a domestic holiday in Scotland and 42% go elsewhere in the UK. However, only 5% had already booked a domestic holiday, with 32% saying they planned to. The survey found potential

holidaymakers keen for reassurance that places will be open to eat and drink and to visit. It suggested strong demand for self-catering holidays, with almost half (47%) of those planning domestic or overseas trips intending to stay in self-catering accommodation, a rise of 25 percentage points on pre-Covid-19 data. A third of respondents

(34%) said their household finances had been “significantly impacted” by the pandemic. The Scottish Tourism Index,

compiled by 56 Degree Insight, was based on an online survey of 512 adults in Scotland on March 11-14. Find out more at:

Tui trims summer capacity but selling prices up 22%

Ian Taylor

Tui has reduced its capacity for this summer from 80% to 75% of 2019’s level, with summer bookings appearing to have stalled. Yet Tui described bookings as

“encouraging” at the group’s annual general meeting (AGM) last week. The company reported group

bookings for summer 2021 remain unchanged at 2.8 million, the same figure it reported in early February, leaving bookings 60% down on the comparable period in 2019. However, Tui reported the

Fritz Joussen

average sales price for this summer up 22% on 2019 due to a “higher share of booked package holidays”. Chief executive Fritz Joussen

said the group had taken 180,000 bookings for July, August and September since last month. Tui said many UK holidaymakers

booked to travel before May 17, the earliest possible restart date for overseas holidays, “have rebooked for a later date in 2021” but gave no figures other than reporting: “Bookings for October are up 12% at Tui UK.” However, the group noted: “We continue to see strong pent-up

demand in the UK, with bookings for summer 2022 now around 120% higher compared to summer 2021 bookings. Bookings for May 2022 are recording an increase of more than 150% compared to May 2021.” In a statement, Tui also said it

retains the flexibility “to increase capacity as travel restrictions are lifted and demand increases”. The Covid-19 crisis “pressed the

pause button” on travel but has not changed the industry’s “great long- term prospects”, said Joussen. He paid tribute to Tui employees,

telling shareholders: “Their commitment has seen our company

through this crisis.” Q Tui confirmed the departure of former chief executive and deputy chairman Peter Long from the group’s supervisory board. Long stepped down on March 25 at the expiry of his term of office as deputy chairman. Executive board member Dave Burling now remains the only former Tui Travel, Thomson or First Choice executive in a senior position.

Norwegian Air to put restructuring plan to the vote

Norwegian Air passed the first stage in its emergence from bankruptcy protection when the Irish High Court approved the carrier’s restructuring plan on March 26. The restructuring proposals

now go before shareholders and creditors for approval in Norway where the carrier is also in bankruptcy protection. If

38 1 APRIL 2021

successful, the company will seek to raise new capital with the aim of emerging from bankruptcy by the end of May. Shareholders have to agree

to their holdings being reduced to a combined 4.6%, and 1,600 unsecured creditors plus customers seeking refunds must agree to receive just 5% of what they are owed plus a pro rata share of €50 million. Norwegian Air will then seek to

raise NOK4.5 billion (€446 million) in new capital to release a Norwegian government loan guarantee of NOK1.5 billion (€149 million). The new capital would provide the

Norwegian is seeking shareholder approval

‘cash pot’ to share among creditors. The carrier entered the

Examinership process in Ireland last November. Voting on the proposals in Norway should be concluded by April 9.

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