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Interviews
THE FLEXIBILITY
BELONGS TO
THE DNA OF TUI
THE CFO OF THE WORLD´S LARGEST TOURIST GROUP ABOUT THE CONSEQUENCES OF THE BREXIT
AND OF THE TERROR ATTACKS, ABOUT THE SUB!GROUP HAPAG!LLOYD, AND THE FIRM´S RATING.
Interview with Mr Horst Baier, CFO of Tui Group, Börsen-Zeitung, June 25, 2016, arcle provided by GEFIU, Associaon
of Chie
f Financial Officers Germany, the German IAFEI Member Instute
Mr. Baier, how do you assess the decision of the Bri"sh
to leave the European Union?
I am a fully convinced European, and I regret, that the
Brish have decided for an exit. But naturally we have to
respect the democrac decision of the Brish cizens.
Now it is up to the Brish government, to manage this
vote in a level headed way - as well polically, as well
as economically.
Which consequences do you expect for Europe, which
ones for Great Britain?
It is difficult to evaluate the consequences so shortly a!er
the referendum. At least for the short term, the decision
will produce uncertainty in Europe and Great Britain.
And uncertainty influences the consumer behaviour,
entrepreneurial decisions and naturally the financial
markets.
What does the Brexit mean for the Tui Group?
Should the Brish Pound devalue in a sustained manner,
then this will certainly impact the purchasing power of
the Brish. This makes holidays more expensive. But it
has to be quesoned, whether the Brish will thereby let
diminish their marked pleasure for travelling. In addion,
we are selling by around 60 % all-inclusive products in
the UK and thus offer planning security. Even when Great
Britain is an important market for us, we are sll a globally
acve corporaon group.
And the growth outlook for the worldwide tourism is very
posive. Insofar we are confident, that we can keep the
effects small.
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