The Travails of Travel
For those taking a break this month, choosing a holiday may never have been easier. Increasing numbers of Europe's holidaymakers are opting to build their holidays on the Web: online travel spending in the U.K. rose by 159% in the first quarter of this year. Not surprisingly, traditional operators are feeling the pinch. Shares in Germany's TUI, Europe's largest, have slid by almost 30% since January. And debt-laden British package operator MyTravel recently announced it would cut its aircraft fleet to slash costs, with rival Thomas Cook dropping winter package prices to try...

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