TUI forecasts 10% profit growth to 2019

Growing demand for holidays in long-haul destinations
TUI Group has expressed confidence in the future by extending its profit forecast, after posting a 12.5% rise in annual core earnings despite the fall in popularity of destinations such as Turkey and Egypt.
Europe’s biggest travel company says it expects profits to increase by at least 10% a year at least until 2019, citing a strong outlook and future investments in hotels and cruises.
“The transformation of the business from a trading company into an integrated company with hotels and cruises at the core of the business will deliver the results,” chief executive Fritz Joussen assured.
TUI posted core underlying profit of just over €1 billion for the 12 months ending September 30, up 12.5% from the year before.
TUI says that winter bookings this season are up 5%. There is growing demand for holidays in long-haul destinations like the Caribbean, Mexico and United States – a trend that has already aided the results for the last financial year despite the difficult geopolitical conditions – as well as Spain and Portugal.
Reuters

x

Check Also

Delta, airlines, United, American Airlines, pay, pilots, bonus, wage, profit share, usa, captains

Airline gives employees $1.1bn

Delta Airlines is being generous, and people working for its competitors are not too happy.

Star Alliance, airlines, digital, technology, share, data, members, mobile, app, website, seat, book, interoperability

Star Alliance improves digital inter-usability

The alliance creates a digital services platform for customers using more than one member airline.

TUI, brand, Q!, result, seasonal loss, Fritz Joussen, Nordics, excursions, activities, stream, finance, accounts, ebita

Tui boosts activities and excursions, improves seasonal loss

The operator wants to raise its turnover and profit from transfers, activities and excursions, calling them a key growth area.

Johan Lundgren, women, pilots, easyjet, salary, wage, cut, Mccall, ITV, airline, management, CEO, equal pay, pay gap

easyJet’s Swedish CEO takes wage cut

Equal pay between men and women is increasingly under scrutiny in large companies.

Israel wins using “marketing revolution”

How did Israel achieve a 25% increase in visitors in 2017?

New destinations on show at Matka this week

Trade fair promises exoticism even for seasoned travellers