First Choice combined with the TUI division to fight competition from online travel agents and budget airlines, and keep pace with rival Thomas Cook Group Plc, created by the merger of MyTravel Group Plc and Thomas Cook AG in June. The tour operator sells holidays to 27 million customers in 20 countries under brands including Thomson and Let's Trek Australia.

TUI last month said tourism profit before interest, taxes and amortization fell to 13 million euros from 152 million euros a year earlier. Revenue was little changed at 3.64 billion euros. TUI has been spending more on advertising its brand, established this year to combine its two airlines.

Thomas Cook last week said a revival in U.K. profit margins was weaker than forecast because of passenger taxes and higher fuel costs. The company expects to meet its annual-earnings forecast after better-then-expected Scandinavian bookings.

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