Report by Steve
Jones
Airtours saw
profits slide £30m to £101m in the year ending September 30 after a turbulent
12 months for the operator that included two profit warnings.
Only the UK
performance, which showed a profit increase of £3m to £91m, prevented a disaster for
the operator.
Scandinavia
Leisure Group contributed £20.3m, half last
year’s figure, while its troubled German operation, FTi, lost £38,3m.
Losses in North
America hit £16.1m although Travel
Services International, which it acquired in February, showed a profit of £8.1m.
In a number of management changes, group managing director
Tim Byrne will become chief executive while Airtours Holidays and distribution
director Richard Carrick will become chief executive of UK business and joins
the board.
A new chief
executive has also been appointed in Germany as it looks to turn round the
ailing FTi operation.
Airtours chairman
David Crossland said: “The results reflect a strong underlying performance
in our principal markets in the UK and Scandinavia, offset by a disappointing
performance from our German business.”
During the year,
Airtours closed its Belgian and French businesses due to poor volumes.