MYTRAVEL is expecting a “significant turnaround” in
the performance of its UK businesses next year after admitting it has just had
the worst year in its history.
It described UK booking trends as encouraging and has
set a target of recovering two-thirds of the reduction in its 2002 UK operating
profit.
MyTravel blamed disappointing UK charter bookings for
this winter (2002/03) – down 7% year on year – on weak market conditions.
It also confessed recent bookings for its specialist
businesses in the UK had been “temporarily affected” by a fall in support from
third-party retailers. Rival chain Lunn Poly refused to rack any MyTravel
products and others are thought to have reduced their support.
But MyTravel said its August and September retail
campaign to encourage early bookings and reduce exposure in the
lates market had boosted trade in the UK.
Its end-of-year results statement said: “The outlook
for the UK business reflects our success in securing additional share of the
early booking market. This increases our utilisation of committed capacity and
achieves better selling prices.”
Summer 2003 bookings are currently 31% ahead of last
year, or 42% if promotional bookings are included.