Fears over Omicron threaten winter wipeout

A CHILL fell across the global travel sector today as the first evidence emerged that mounting concern over the Covid-19 Omicron variant is knocking demand for winter getaways.

- Naomi Ackerman

Tui, the world’s biggest tour operator, was first to sneeze, telling investors the emergence of the highly transmissible strain and “increased media coverage of rising incident rates” has softened positive momentum in bookings.

The travel giant had planned to ramp up capacity over the winter, hoping to sell up to 80% of pre-pandemic volumes. It now thinks 60% is more likely.

Shares in the Anglo-German company fell as much as 6%, and the rest of the market soon caught a cold.

Fellow package holiday group On The Beach was down by as much as 2.3%.