Tui counts cost of Boeing crisis | Business – The Times

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Tui counts cost of Boeing crisis | Business – The Times


Europe’s biggest travel group reported a 49 per cent slump in underlying third-quarter earnings but said that recent booking levels had improved and it remained “in very good shape”.

Tui Group, which has sought to distance itself from the travails of Thomas Cook, its closest rival, said that the grounding of its Boeing 737 Max fleet had taken a €144 million bite out of its profits, while customers had also been putting off booking their summer holidays.

However, Fritz Joussen, 56, the chief executive, pointed to improved booking levels in the third quarter.

The 3 per cent decline reported in the first half had narrowed to 1 per cent — on average prices up 1 per cent. Mr Joussen said: “We expect the recent positive trend…

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