TUI says flight disruptions drove new loss

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1 年前

STORY: TUI posted a third-quarter operating loss on Wednesday (August 10).

It blamed higher costs related to air traffic disruptions across Europe, which forced it to pay additional costs of almost $77 million.

Without those costs included, operating profit stood at about $49 million for the three months ended June 30.

That was TUI’s first positive result since before the health crisis began.

The firm also said summer bookings were close to pre-health crisis levels.

It expects this summer to reach the levels of 2019, with average prices much higher than three years ago.

TUI is one of the world’s largest tourism groups.

It runs everything from travel agencies to airlines, hotels and cruise ships.

Now it's bouncing back on demand for so-called ‘revenge travel’.

That is where travellers make up for vacations lost during the health crisis.

The German company said in May it expected to return to profitability this year.