August 9, 2018 / 6:22 AM / a year ago

TUI says prepared for hard Brexit

BERLIN, Aug 9 (Reuters) - European travel and tourism group TUI is preparing for the worst case scenario of a hard Brexit, its chief executive said on Thursday.

“If you don’t know, you prepare for the worst case scenario. That is our duty as a company,” Fritz Joussen said after the group reported third quarter results.

“Are we ready if it happens? Yes,” he said, adding that he believed a transition phase was likely and TUI had a long list of measures ready.

He also said that German airline TUIfly was not up for sale. Ryanair’s chief marketing officer had on Wednesday suggested it was up for sale, but Joussen said that was “nonsense”. (Reporting by Victoria Bryan Editing by Maria Sheahan)

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