Kuoni gloomy about “difficult” Nordic market

Sales tumble for Kuoni’s tour operations
Kuoni’s tour operations have seen revenues from bookings drop by 8% for the first five months of 2015 as the company continues to look for buyers for these businesses.
The Swiss-based company still “intends to find new owners” for its tour operators “in the course of 2015”, it said in a trading statement released to investors. It said that the “business environment remains challenging and highly competitive”.
It added: “Discounts and reduced flight capacities led to lower bookings compared with the same period in the previous year.”
Kuoni also partly blamed the market in Scandinavia for the fall in revenues. “In a persistently difficult market environment in Scandinavia/Finland, the booking trend improved slightly, but sales fell mainly because of a significant decrease in flight capacities.”
It went on: “While the India, Hong Kong/China and Benelux markets performed well, the Swiss market suffered from the removal of the floor on the euro/franc exchange rate.”
TTG Nordic / TTG Digital

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