The Travel Convention 2026: Abta’s October forum will offer ways to ‘plot a Continued from page 48


immediate dilution” of up to 5% in the value of their shares – to create the EU trust – accept that their ‘rollover’ shares confer fewer rights and that easyJet take on up to £3 billion in debt to finance the deal. As of this week, 10


institutional investors held 25% of easyJet shares. For the takeover to meet EU ownership rules, a sizeable proportion of Europe- based institutional investors have to agree to roll over their holdings and forgo the £7.15- per-share Apollo is offering. That is 43p above the airline’s


share price early this week and more than double what it was in May before rival US fund Castlelake made an initial bid for easyJet. If shareholders of sufficient size do not buy into retaining their stakes but take the money, meeting the EU requirements could be a stretch. Initial shareholder reaction appeared muted, with one


large investor telling the Financial Times: “The price is disappointing, but I don’t think we have much of a choice.” Assuming the takeover is


settled on these terms, it must then be signed off by regulators not just in Brussels but in the UK, Germany, Austria and Switzerland. This seems unlikely by the end of March 2027. In the meantime, reports of


how Apollo intends to boost easyJet returns by taking the carrier upmarket and exploring agreements with long-haul carriers are clearly directed at investors. One report had easyJet discussing a tie-up with Virgin Atlantic – an attractive idea but fairly limited when Virgin no longer operates at easyJet’s biggest UK base, Gatwick.


Abta event to tackle ‘era of ongoing uncertainty’


Abta’s theme for this year’s Travel Convention in Madeira, ‘Managing Uncertainty with Confidence’, represents a contrast to last year’s ‘Reasons to be Cheerful’. Most of the major challenges


facing the industry have not changed – geopolitical instability, chronic uncertainty, a stalling economy, AI disruption and destination risks, to which now we must add the crisis in the Gulf and its impact on fuel prices. Abta chief executive Mark


Tanzer noted: “The travel industry is always dealing with some kind of event, but we’re in an era of ongoing uncertainty. Change is coming from a lot of directions and to a degree these changes interact. “When there are such changes


– technological, sociological, even environmental – it does create opportunities. So, how do we seize those to take advantage and plot a way forward rather than feel ‘I’m being battered from all sides’?” Domestically, he said: “We have a


new prime minister. But I don’t think the economic fundamentals have changed. We have a very high level of debt. We have high expectations of public services. Plus, we’ve added the need to increase defence spending. The numbers don’t add up – either we have to pay more tax or accept lower levels of public spending in some areas. “[The government] trying to


shuffle spending from Westminster to the regions doesn’t alter the fact that the money isn’t there. Doing things around the edge in terms of VAT on fuel bills doesn’t change the underlying picture. “Shuffling the cabinet may


make a difference in certain departments, but it’s not going to change the big picture.


46 13 AUGUST 2026


and support. The old model is still valid, and the homeworker model has been expanding.” His opening keynote speech


Mark Tanzer It’s a very


late-booking market, much later than usual, which tests the nerve of tour operators


“The chancellor has found a


way of bending the fiscal rules to invest in public housing. But it is still government borrowing and eventually the markets will demand higher interest rates that feed through to mortgages and everything else. So, the cost-of- living squeeze is not going away.” That said, travel demand has


remained surprisingly strong. Tanzer noted: “It’s a very


late-booking market, much later than usual, which tests the nerve of tour operators. Demand is there in terms of numbers, but in terms of margin it will be a squeeze. There are some very good deals out there. Even hotels are cutting prices. “It will be interesting to see


where we are by the convention when we’ll have a picture of what August and September delivered.” He added: “Travel agencies have


all the challenges small businesses have. It’s not an easy model. But there are people with money to spend on holidays who want expertise


will come in an interview with moderator Jonathan Samuels, which will highlight destination risks and the work Abta is doing to address these, particularly with Spain. Tanzer explained: “These


aren’t just environmental risks, but how you get a balanced model between residents, visitors and the commercial benefits of tourism.” He warned that concerns


about overtourism “are not going away”, saying: “We saw the recent demonstration in Palma. The way it was reported made it sound as though it was all about overtourism. Knowing the people in Majorca, it wasn’t. The protests are about broader issues such as housing. But the way it comes across is, ‘We’re not welcome.’ “We’re aware this is a challenge.


Abta is working with members and destinations to be able to manage the growth of tourism.”


HOST VENUE: MADEIRA


The five-star Savoy Palace Hotel in Funchal, Madeira, is the venue for the 2026 convention. Tanzer noted: “The perception of Madeira used to be that it’s old-fashioned and has an older visitor demographic, but they are putting significant investment into tourism – building up the activity side of the island and repositioning for a younger market. “For people who haven’t been to Madeira before or think they know the island, the Travel Convention is an opportunity to see how it has changed.”


travelweekly.co.uk


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48