TUI misses profit over €75m travel disruption costs
TUI took a €75 million hit from disruptions in air travel during the last quarter.
Without these additional costs it was ‘clearly in the profit zone,’ it said.
A €27 million loss in underlying earnings included the impact additional costs for air traffic disruption, notably in for UK.
It carried 5.1 million travellers in the third quarter with turnover up to €4.43 billion
“Our business performed well in the third quarter – despite the operational challenges in the European tourism sector. This shows the strength of the TUI brand and high demand for holidays,” said CEO designate Sebastian Ebel.
TUI says 90% of summer 2019 booking levels were achieved and free cash flow increased to €1.2 billion
“We want to offer TUI’s high standards of quality and service, despite the difficult environment. We continue to expect a strong travel summer 2022 with capacity close to pre-crisis levels,” Ebel added.
The near breakeven result was aided by strong performance in holiday experiences, cruises and TUI Musement.
Ray Monty
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