TUI – Brighter Conditions In Q3, Outlook Less Clear
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...