June 2 (Bloomberg) -- The British tradition of “booze cruise” day trips to continental Europe to buy cheap beer and wine is being revived, boosted by an exchange rate that’s seen the pound strengthen to 1.25 euros for the first time in 3 ½ years, the Financial Times reported.
P&O Ferries Ltd. said it expects 140,000 passengers over the four-day bank holiday weekend starting from today through June 5, the FT said. With Queen Elizabeth II celebrating her Diamond Jubilee and London hosting the Olympic Games this year, many Groupe Eurotunnel SA customers are going to France to stock up on beer and wine, the newspaper said, citing Fabienne Lissak, a spokeswoman for the operator of the rail tunnels under the English Channel.
To contact the reporter on this story: Alex Morales in London at firstname.lastname@example.org.
To contact the editor responsible for this story: Reed Landberg at email@example.com.