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First Choice Holidays

TUI Travel Value Tumbles

2010-10-21 by Phil Butler

TUI Travel Board of Directors

TUI Travel accepts CFO resignation amid almost scandalous restating of financials. CEO Peter Long and CFO Paul Bowtell talk, after which Bowtell announces his resignation. A restated financial report reveals a fairly vast accounting error – stocks decline on the news.

Tags: Bowtell, CEO, CFO, Europe travel, Financial, First Choice Holidays, Peter Long, stocks, Thomas Cook Group Plc, travel agency, travel agents, travel stocks, TUI Travel

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Featured Stories

Kastelli Airport 65% complete hero image

Kastelli Airport Nears Completion, Says Every Update Since Forever

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Do Plants Feel Pain?

gunfire in Crete

Why Crete Is Not All Random Bullets and Vendetta

burning olive wood

Why Crete Smells Like Burned Olive Wood in Winter (And Why That’s Normal)

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Murphy’s Laws of Travel

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Your go-to guide for foraging cretan horta

Stories of Interest

Maria Kozyraki

Demolitions of Illegal Structures Set to Begin Along Crete’s Coastline

2026-01-05 By Iorgos Pappas

After years of delays, reviews, and dormant paperwork, the state is finally moving forward with the demolition of illegal structures along Crete’s coastline. In early January, the Decentralized Administration of Crete signed a works contract that clears the way for the execution of final demolition orders affecting beaches, the foreshore, forest land, and reforestation zones […]

Kastelli Airport 65% complete hero image

Kastelli Airport Nears Completion, Says Every Update Since Forever

2026-01-05 By Kostas Raptis

Kastelli Airport is “65% complete” again. Delays, timelines, optimism, and Crete’s legendary siga-siga culture collide.

gunfire in Crete

Why Crete Is Not All Random Bullets and Vendetta

2026-01-01 By Kostas Raptis

Crete’s reputation often suffers from isolated incidents amplified into myths, but the island is safer than headlines suggest.

burning olive wood

Why Crete Smells Like Burned Olive Wood in Winter (And Why That’s Normal)

2026-01-01 By Mihaela Lica Butler

From October to May, winter in Crete smells of burning olive wood. It looks illegal, feels confusing, and is completely normal — if you understand the island.

Crete culture

Crete Plans €2 Million in Culture and Sports as Infrastructure Falls Behind

2025-12-29 By Manuel Santos

Crete announces a €2.06 million cultural and sports programme for 2026, even as water shortages, infrastructure strain, and airport delays raise hard questions.

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