Tui group chief executive Fritz Joussen said different markets needed different strategies. He admitted: “There is not a single travel agency any more in our Nordic markets,” but said this did not mean the Tui Group would adopt the same move to digital sales everywhere.

“In the UK around two-thirds of our customers come (to us) online, but we are opening stores again on main street. Nordic customers are very comfortable buying integrated tour operator products online, but in Germany and the UK people like a physical presence more. Therefore we want to be where the customers are.”

However, Joussen said digitisation “is our next big agenda”. “If you want to serve 20 million people according to their demand, it is only possible with digitization and cloud-based services,” he added.

Joussen said the UK market presented a challenge following the Brexit vote, which had prompted “a margin squeeze”. “The costs are in euros or dollars and revenue is in the weaker pound,” he said.

Asked about Jet2holidays’ rapid rise to the UK number two slot, he said only that: “It is a lively market, we are fine with whoever is number two.”