Tui reveals €40mln cost of Tunisia attack

Tui Group takes hit to profits of up to €40 million
Tour operator Tui Group has taken a €35 million to €40 million hit to its profits as a result of the terrorist attack in Tunisia.
The news came as the group announced an improved third quarter performance, however. Underlying ebita (earnings before interest, taxes and amortization) rose by 18% to €194 million. Tui Group’s joint chief executive, Peter Long, says he still expects the company to report growth in this year’s annual profits despite the Tunisia losses.
The 30 British victims of the shooting on the beach near Sousse were all Tui customers. The company launched a massive airlift operation to bring back customers still in Tunisia and subsequently cancelled all holidays to the country.
Tui’s rival Thomas Cook also took a hit from the terrorist attack in Tunisia and the financial crisis in Greece. The 174-year-old operator said profits would be down by about €35 million because of the incidents.
TTG Digital / FT