Concerns in the UK travel industry of holiday ‘oversupply’
The upcoming season poses challenges in the UK tourism market as smaller operators express worry about the surge in holiday offerings from the three major tour operators, Jet2Holidays, TUI, and easyJet Holidays, fearing it could lead to an oversupply triggering a discount war.
As reported by Travel Weekly, there is apprehension regarding oversupply. The executives of the 'big three' believe that their programming decisions align with the demand in the British market but do not rule out the possibility of being forced to offer discounts if market circumstances change due to geopolitical causes such as war conflicts.
Steve Heapy, CEO of Jet2holidays, expresses confidence in covering all scheduled capacity but acknowledges that "if there is an escalation of war in the Middle East or Ukraine or a major financial crisis, then there will be an imbalance between supply and demand, and prices will decrease."
Andrew Flintham, CEO of TUI UK & Ireland, adds that "this is the most competitive year change I can remember." Johan Lundgren, CEO of easyJet, also believes that it is necessary to wait and see how "balanced" the supply and demand will be.
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