Kuoni bookings slump

21st Apr 2009

Kuoni has reported that bookings are 23 percent below last year’s levels. The Swiss travel giant said this was largely to weakness of the Swiss Franc, and in real terms only 12 percent lower, and also slightly ahead of last month’s bookings.

Reporting ahead of today’s AGM, Kuoni said the improvement in booking over the past months is attributable to a growing tendency among consumers to book later and at shorter notice. However it warned that “booking levels also remain severely depressed by negative currency movements”.On a regional level, the UK suffered the biggest bookings slump - down 30 percent in CHF or 11 percent in Sterling, whilst Switzerland was down 15 percent.

At its AGM, shareholders approved the re-election of the chairman of the Board of Directors Henning Boysen. Board member David J. Schnell also stood for re-election, with both board members elected to serve for a three-year term.

Shareholders also approved the distribution of a dividend of CHF 2.00 per Registered Share A and CHF 10.00 per Registered Share B.



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