Tui chief financial officer Horst Baier told German financial publication Boersen Zeitung that there were “no real risks” to its results for this financial year because it had hedged its currency and fuel requirements.
However, he admitted that there could be a currency “translation effect” to its final accounts due to the drop in the pound’s value. The UK accounts for around one-third of Tui’s business.
Baier said that while UK holidaymakers may have less money to spend because of a weakening pound, he still expected Britons to continue travelling.
“Even if Britain is an important market for us, we are a globally active company and the growth prospects for global tourism are very positive,” asid Baier. “So we are confident that we can keep the impact small.”
British Airways’ owner International Airlines Group issued a profit warning on Friday in the wake of the Brexit announcement.
