Tui sees solid summer trading

But late timing of Easter impacts results
Tui Group’s summer trading is on track with its expectations of customer demand for Spain, Greece and the Caribbean, which have helped offset a drop in sales for Turkey and North Africa.
The travel giant reported an 8% rise in revenue for summer 2017 compared to the previous year, while customer numbers were up 4%. But the operator reported a second-quarter loss of €177 million, impacted by a late Easter.
Adjusted for the late timing of Easter this year, the loss for the first six months of the financial year improved 6.3% to €193.3 million.
Tui also confirmed a target to increase underlying earnings by at least 10% this year.
In its source markets, Tui’s Northern Region, which includes the Nordic countries, the UK and Ireland, Canada and Russia, saw overall growth of 5% in customer numbers.
“Our transformation to an integrated tourism business is on track. We are delivering strong growth in our hotel and cruise brands,” declared Fritz Joussen, chief executive.
“These two segments contribute half of our operating result on a full-year basis. Tui Group is changing quickly – our guidance remains unchanged despite a challenging environment. We reiterate our guidance to deliver at least 10% growth in underlying EBITA this year.”
TTG Digital

x

Check Also

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.

beach holiday, lowcostholidays, bankrupt, compensation, crowdfund, family

Nordic bookings: blue Mondays or sunshine Saturdays?

When do people in Scandinavia rush to book their holidays?

Tui helps poor Brits with cut-price hotels

Operator to open lower-cost hotels in Bulgaria and Croatia

European Union, EU, Brexit, Ryanair, pivot, cfo, Neil Sorahan, early deal, uk

Brexit uncertainty among travel businesses

European travel businesses slump on EU vote result

TUI, Dreamliner, 737MAX, long-haul, Cape town, Maldives, New York, Singapore, Kuala Lumpur

Tui: big aircraft order, long-haul growth

Tui Group now has 70 orders for 737 MAX, three for 787-9