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Dark screens shape everyday life – The travel industry is battling the fallout from the corona pandemic. (Symbolic image: Keystone)
Switzerland
Hotelplan Suisse had the worst financial year in its history due to the corona pandemic. Recovery is only expected in about three years.
The tour operator Hotelplan Suisse had the worst financial year in its history due to the corona pandemic. In the 2019/20 financial year, which ended at the end of October, sales fell 65 percent, company chief Tim Bachmann told the media on Tuesday.
He did not give absolute numbers. A year earlier, the Migros subsidiary had invoiced 572.9 million francs. “The commercial base withdrew from the travel industry,” Bachmann said. The number of passengers has also decreased significantly.
Deep in the red
Hotelplan Suisse sank deep into the red. “The result was the greatest loss in history. There are several annual gains that have been lost, ”said Bachmann. Thanks to the support of Migros, it was possible to make quick refunds to customers for canceled vacations. Furthermore, the parent company was heavily in debt, said Hotelplan Group resigning boss Thomas Stirnimann, without giving figures.
Recovery will likely take a while. In the next financial year, half of 2019 sales are expected. In 2022, the downside should be 20 percent. Full recovery will take about three years.
