lontui
TUI AG (LON:TUI)’s third quarter revenue rose from €649.7m to €4.4bn, reflecting the effects of increased travel and tourism activity following the pandemic. The group’s faced additional costs of around €75m relating to flight disruption caused by wider aviation industry labour shortages. Excluding these costs, TUI recorded underlying operating profit of €48m, compared to heavy losses last year. Summer is on-track to see capacity and customers close to pre-pandemic levels. TUI said “we re-confirm our expectations to return to significant positive underlying EBIT for financial year 2022 and rem...
ValueWalk
“The flight paths out of the crisis have begun to be mapped out for the world’s largest travel and tourism operator but the damage caused by the harsh rays of Covid run deep. Q1 2021 hedge fund letters, conferences and more TUI AG Posts LossesTUI AG (LON:TUI) has posted a group loss of almost 1.5 billion euros for the first half of the year as planes were grounded and hotels emptied while rolling lockdowns took hold in key markets for huge chunks of the period. As revenues plunged by 89%, TUI grabbed hold of a raft of financial life buoys to see it through the crisis. It’s now being kept afloa...
ValueWalk
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