AIRTOURS, the holiday giant which last year bought Brighton-based operator Panorama Holidays, reported New Year sales 20 per cent up on last year.

It said demand had been boosted by the millennium build-up. Sales for the celebrations are 20 per cent ahead of last year even with higher selling prices.

Reporting on its first quarter results to December 31, Airtours,now the UK's second largest holiday provider, said bookings for its winter 1998/99 season are six per cent ahead of last year and like-for-like sales for summer holidays, stripping out new acquisitions, are five per cent ahead.

The company said it continued to see particularly strong growth in the short breaks market.

Overall turnover for the rapidly expanding company was up 40 per cent to £708 million, compared with £504 million in the first quarter of 1997.

Most of the increase reflected newacquisitions made by the company and strong winter sales in Scandinavia.

Last year Airtours added Direct Holidays, Bridge Travel Group and Cresta Holidays as well as Panorama to the group.

The seasonal loss, normal in the winter period, before tax was £19.4 million compared with a loss of £17.3 million the previous year.

Some of the loss was also due to expansion of its tour operating activities, the company said.

With the new expansion programme, the company now has 800 high-street booking outlets and employs 20,000 people worldwide.

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