XL Leisure competitors eyeing market share

Although many tour operators were stepping in to help out XL Leisure Group customers in the wake of the company’s collapse, many were also celebrating the likelihood of new business coming their way.

Thomas Cook and TUI Travel are being seen as the main beneficiaries of the XL failure, according to travel industry experts, with the two expected to share the seven per cent of the holiday package market that has opened up. Shares in both travel company giants rose by seven per cent in Friday’s trading.

The chief executive of TUI Travel, Peter Long, has expressed “complete surprise” that XL collapsed, but added that his group would be working to pick up the XL market share.

Long said: “When a significant size competitor disappears, we are going to benefit in some way, but we have been working very hard on helping stranded travellers in the short term.” “We have about 24pc of the market already and though some of XL customer base we won’t want, some of it is up for grabs.”

The travel company executive continued by saying it’s likely that airline companies, rather than travel operators, will pick up the majority of the business: “It’s the companies with airline business that are set to benefit the most, as XL was more of an air carrier than a tour operator like we are.”

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