TUI Travel majority shareholder sees net profits slide
Tuesday, 15 Dec, 2010
0
TUI Travel’s German major shareholder TUI AG suffered a net profit landslide of 40% to €101.8 million for the last financial year.
The company owns 55% of TUI Travel but hopes to buy up the rest of the shares once it has flogged off container shipping business Hapag Lloyd, a remnant of its years in heavy industries.
However, once restructuring costs and spring’s ash cloud are taken into account, TUI AG actually experienced a rise in underlying profits from €589.2 million this year, compared to €470.5 million in 2008/9.
TUI AG chief executive Michael Frenzel said: “Trading for the current winter season is up year-on-year in all European source markets, with some markets reporting substantial growth.”
by Dinah Hatch
Dinah
Have your say Cancel reply
Most Read
TRAINING & COMPETITION
Posting....
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.

































Qatar Airways offers reduced timetable to over 60 destinations
Hands In, UATP join forces for airline multi-card payments
AirlineRatings reveals world's safest airline rankings for 2026
Vietnam warns airlines of possible flight reductions amid jet fuel shortages
Fliggy opens AI-powered travel bookings and developer tools