The total costs of approximately CHF 80 million associated with withdrawal from loss-making European tour operator activities have already been communicated on 21 September 2012 and remain unchanged since the original announcement.
As part of the announced withdrawal from loss-making European tour operator activities (see communication of 21 September 2012), the relevant companies in the Netherlands, Spain and Russia have been sold. Closure has been initiated for Kuoni and Best Tours activities in Belgium as well as for the B2C online hotel platform Octopustravel.
Τhe Kuoni brand’s tour operator activities in the Netherlands and Spain were sold to local management (management buy-outs) as at 30 November 2012. Meanwhile, Megapolus Tours (Russia) was acquired by the owner of Russian tour operator “Russian Express” on 30 November 2012. All about 250 employees concerned have been taken on by the new owners.
No sustainable solution has been found for Kuoni and Best Tours in Belgium and for the B2C online hotel platform Octopustravel. Therefore closure of these operations has been initiated. Activities will cease during the first half of 2013. Short-time working has been introduced in the Italian market. All withdrawal options are still being examined here, and an exit is expected during 2013.
The total costs of approximately CHF 80 million associated with withdrawal from loss-making European tour operator activities have already been communicated on 21 September 2012 and remain unchanged since the original announcement.
“The new focus of our tour operator portfolio has already come a long way in three months. I’m pleased that for the most part we have found sustainable solutions and preserved jobs, and that we have been able to work constructively with employee representatives.
By withdrawing completely from the activities concerned, Kuoni is eliminating operational losses and concentrating on strategically relevant areas of business as a global, broad-based travel services provider,” says Peter Rothwell, CEO of Kuoni Group.
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