After warning that profits may
fall by up to 17%, rumours abound that Airtours will
soon be taken over by German company C&N.
Although bookings are up 18%
on last year, Airtours expects profits to fall by
£50m, mainly due to a reorganisation of its
existing business. The news led to £200m being
wiped off the share price and a 17% fall in one day.
After Thomson's
takeover by Preussag in May, a successful C&N
bid would leave both of Britain's largest travel companies
in German hands. Part of a planned move to get the
best spots by the pool???
