http://www.tuitravelplc.com/

TUI Travel is one of the world’s leading leisure travel groups, with over 220 trusted brands in 180 countries and more than 30 million customers.

‘Making travel experiences special’ underpins everything we do and keeps our focus on providing the unrivalled choice, professionalism and confidence our customers and stakeholders can rely on, now and in the future.

Our business is grouped into three sectors, comprising many of the best loved and market-leading travel brands worldwide – Mainstream, Accommodation & Destinations and Specialist & Activity. From the most popular holiday brands to an unparalleled collection of specialist travel providers, we offer the breadth and depth of experiences and expertise for every conceivable type of traveller.

We are a truly global business, employing approximately 55,000 people and operating in 31 key source markets worldwide. As a dynamic, influential company we are committed to responsible leadership in the travel sector. Our head office is in the UK and TUI Travel PLC is listed on the London Stock Exchange as a member of the FTSE 100 and FTSE4Good indices with the ticker code TT.

Thursday will bring us a pre-close trading update from TUI Travel before the company releases full-year results for the year ending 30 September. Results for the third quarter, released on 8 August, told us of operating profit for the quarter falling by 16% to £74m. But that's not too bad, considering the tough economic times we're in, and there was encouraging news of rising bookings this summer.

TUI has fared quite a bit better than some rivals, like Thomas Cook Group which nearly went to the wall and is still saddled with very large amounts of debt. By comparison, TUI's forecast 5% dividend looks good, with the 232p shares on a prospective P/E of only 10. They say that hard times sort of the strong from the weak, and TUI is looking like one of the strong ones to me.

On the results front, package tour operator TUI Travel will issue a pre-close period trading update.

The consensus estimate for full-year earnings before interest and tax (EBIT) is £480m and TUI's management is confident of achieving this despite foreseeing a large negative foreign exchange impact. Broker Jefferies Hoare Govett thinks that a weaker euro could hit fourth-quarter EBIT by up to £40m, implying underlying upgrades of 8%.

Peel Hunt, meanwhile, thinks the group will have had a solid end to its trading year, with stable demand and pricing in all core markets with the exception of France.

"A weak euro will have been a negative factor in the latter half of the year but this is largely a translation dynamic not a trading one. Overall we do not expect any change in the consistency of the message," the broker said.

Trading Update

Highlights

· Remain on track to meet our full year expectations.

· Strong trading for Summer 2012 high season, with improved margins and load factors versus the prior year.

· Encouraging start to Winter 2012/13 trading. Strong differentiated product and online sales performance, particularly in the UK and Nordics.

· In A&D, Winter 2012/13 bookings are up 14% and sales (TTV) up 32% versus the prior year.

· In the UK, early bookings for Summer 2013 are significantly outperforming the market, particularly for our differentiated product.

· Business improvement programme progressing to plan.

..UPDATE 1-TUI Travel sees encouraging winter holiday sales

Reuters - UK Focus – 58 minutes ago


LONDON, Sept 27 (Reuters) - TUI Travel (Other OTC: TTVLF.PK - news) , the world's biggest tour operator, said it had sold more summer holidays this year than a year ago and that early sales of winter getaways had been encouraging.

The group, which owns Thomson and First Choice, on Thursday said it now had fewer holidays left to sell than at this stage last year. It said year-on-year summer holiday sales were up 6 percent in Northern Europe, 5 percent higher in central Europe (Chicago Options: ^REURUSD - news) and 2 percent up in Western Europe.

"We remain on track to meet our full year expectations, with strong underlying trading offset by the impact of re-translation of fourth quarter Eurozone earnings," chief executive Peter Long said in a statement.

"Our continued outperformance in a challenging macroeconomic environment demonstrates our robust strategy is delivering clear results."

TUI Travel is expected to report an average pretax profit of 356.3 million pounds ($575.30 million) for the year to the end of September, according to a Thomson Reuters I/B/E/S poll of 16 analysts.

The FTSE 100 company said although it was relatively early in the booking cycle, winter 2012/13 sales had been encouraging since August with load factors in line with its expectations.

Winter (Stuttgart: A0XFUK - news) holiday sales had been especially strong in northern and central Europe, it said.

The company said it was outperforming competitors in Britain, helping to offset weaker trading in France.

Shares in TUI Travel, which have risen 40 percent in the last three months, closed at 230.1 pence on Wednesday, valuing the group at around 2.6 billion pounds.


..

TUI Travel , which I just added to our Beginners' Portfolio watchlist, saw its shares gain a modest 4p (1.7%) to 234p after releasing a trading update. The travel firm saw strong trading for the summer high season, and the winter season is also off to a good start. Margins are improving, and things are on track to meet current full year expectations.

And those expectations include a dividend yield of around 5% from shares that are on a forward price-to-earnings ratio of under 10.

:-))

TUI Travel: Morgan Stanley moves target price from 200p to 250p, equal weight rating maintained.

Tour operator TUI travel (LON:TT.) is benefiting from the renaissance of the package holiday, broker Morgan Stanley suggested today.

Analyst Andrea Ferraz reckons the all-in holidays look to be back in fashion after UK package volumes grew over the last two years following years in the doldrums.

Just as surprising to the number cruncher is that TUI looks set to beat forecasts, with earnings potentially hitting 42p per share.

The analyst also reckons the decline at other travel agents such as Thomas Cook (LON:TCG) may have boosted TUI.

However, with shares having lifted around 60% since their lows and a price-to-earnings ratio of 10, “investors need to believe in the bull case to buy the shares, but that is still a stretch”, the analyst added.

Barclays Capital Overweight 267.60 267.60 250.00 320.00 Reiterates

Package tour operator TUI travel’s full-year results on Tuesday are a barely needed reminder that it will soon be time to start thinking about booking a summer holiday.

The market is expecting TUI, which trades under a number of brands, including Airtours and Thomson, to reveal a slight decline in revenue to £14.62bn from £14.69bn last year.

Headline profit before tax is seen easing to £310.1mln from £360mln the year before. Analysts have pencilled in earnings per share (EPS) of 23.56p, barely changed from last year. The full-year dividend is tipped to rise to 11.7p from 11.30p.

The company’s results announcement is also expected to contain details of the road map for growth, though the future of the Eurozone is doubtless making route planning difficult for management.

Interim Results

Highlights

· Record year of profit and improved operational efficiency

- Operating profit increase of 12% to £526m on a constant currency* basis. Underlying operating profit of £490m (2011: £471m), an increase of 4%.

- Record Mainstream underlying operating profits, on a constant currency* basis, in all markets with the exception of France and Southern Europe.

- Outstanding performance in the UK with a record underlying operating profit of £197m (2011: £149m) and operating profit margins of 5.4%, up from 4.2% in the prior year.

- Business improvement programme outperformance with £42m delivered in the year.

- Strong underlying earnings per share growth of 9% to 25.8p (2011: 23.6p). Statutory earnings per share grew by 62% to 12.5p (2011: 7.7p).

- Final dividend increase of 4% to 8.3p per share (2011: 8.0p), resulting in a full year dividend of 11.7p per share (2011: 11.3p).

· Modern Mainstream strategy delivering results

- Sales of higher margin unique holidays increased by three percentage points to 65% of Mainstream holidays.

- Online sales up three percentage points to 33% of Mainstream sales. Direct distribution up two percentage points to 65% of Mainstream sales.

· Significant international expansion across Online Accommodation

- Online Accommodation profits up 3% to £35m, including an £11m investment in our Accommodation OTA.

- Accommodation Wholesaler continues to consolidate its global leadership position; TTV growth of 13% to £1.4bn.

- Accommodation OTA - Continued investment in high growth markets; TTV growth of 4% to £447m including AsiaRooms growth of 25%.

· Clear strategy continuing to drive strong trading momentum

- Very encouraging Winter 2012/13 trading.

- Strong Summer 2013 bookings in the UK, Nordics and Germany. Significant growth in profitable market share in the UK.

- Clear roadmap for sustainable future growth with an annualised underlying operating profit growth rate of between 7 to 10%.

Absolutely going for it today following these results. Just goes to show what a load of utter nonsense there is in the press about people who can't afford to feed their children. Encouraging Winter trading and strong Summer bookings. What recession, where?

doodlebug - You been a complete knobhead all your life or is this a new career? "What recession, where ?" Open your eyes you muppet!

:-))

Chris Carson - charming chap that you obviously are - the newspapers keep telling us that everyone is broke and we are in a recession, but somehow people still manage to find the money to spend on holidays. Do you understand that simple translation of what I was trying to say? Thank you for the compliments. Great bulletin board this, I have so far been called "scum", "pleb", "knobhead", "muppet" and I can't remember the other insult. Thankfully, there also seem to be some class acts on moneyam to balance things out.

The results today perhaps show the British public are not giving up on their holidays lightly, the same for all the other countries Tui operates in.( Same as fish and chips on Friday and some plants for the garden in summer)
Tui seem to have got the choice of holidays right for consumers that have tightened
their belts. What a difference to Thomas Cook.

TUI travel announced preliminary results for the year ended 30th September 2012 yesterday. Revenues were down 2% to £14.46bn, as organic growth of 2% was offset by foreign currency translation impact of 4%. Underlying operating profit rose 4% to £490m, with record mainstream underlying operating profits, on a constant currency basis, across all markets excluding France and Southern Europe. The UK market delivered a tremendous performance with record underlying operating profit of £197m (FY2011: £149m) and operating profit margins of 5.4%, up from 4.2% in the previous year. The French operation reported an underlying operating loss of £47m. Pre-tax profit on an underlying basis increased 8% to £390m. Growth was also supplemented by £42m in cost savings from the business improvement programme. Basic EPS on an underlying basis rose 9% to 25.8p. Sales of higher margin unique holidays rose by three percentage points to 65% of Mainstream holidays. Total Mainstream sales in the winter 2012/13 season were up 3% y-o-y, despite customer’s numbers dropping 1%. The management said that, excluding France, trading for both winter 2012/13 and summer 2013 were very encouraging. The management is confident that its new strategy for growth could deliver an underlying operating profit CAGR of between 7 to 10% over the next five years. The Board raised its final dividend per share to 8.3p from 8p, taking the full-year dividend to 11.7p, a 4% increase from last year. The stock rose 3.4% yesterday.

TUI Travel: Exane BNP raises target price from 260p to 300p, while maintaining a neutral rating.

JPMorgan Cazenove tipsters are backing TUI travel (LON:TT.) as their top pick of the European tour operators.

After a strong set of full-year results, the broker raises its target price a touch to 320p, above the current price of 287p.

The broker reiterated its ‘overweight’ rating on the stock and is eagerly awaiting more updates from the company that claims to have made “a very encouraging start” to 2013.

Looks like these replace PNN in the FTSE. FTSE 100 Constituent Changes

TUI travel (LON:TT.) was also upgraded today by HSBC to 'neutral' from 'underweight' while the price target remained the same at 289 pence

TUI Travel reveals record year of profits
Fri 04 Jan 2013

TT. - TUI Travel

Latest Prices
Name Price %
TUI Travel 286.00p -1.04%

FTSE 100 6,052 +0.08%
FTSE 350 3,238 +0.08%
FTSE All-Share 3,173 +0.08%
Travel & Leisure 5,421 -0.29%

LONDON (SHARECAST) - TUI Travel posted Friday a record year of profits following strong performance in UK markets and improved operational efficiency.

The FTSE 100 leisure company reported an operating profit increase of 12% to £526m on a constant currency basis for the year ended September 30th, 2012.

The group’s underlying operating profits were £490m, up from £471m a year ago.

UK business activity contributed to the company’s growth with a record underlying profit of £197m compared to £149 in 2011.

The results were also driven by revenues from international expansion across online bookings for accommodation. Online accommodation profits were up 3% to £35m.

“This has been a year of record success across the group, proving that our strategy is delivering results," Chief Executive, Peter Long, said in a statement.

“…These are the results of a resilient and flexible business with the right strategy for the market and a large number of colleagues who care about our customers, are passionate about our leisure travel experiences and can plan, implement and deliver growth.”

The final dividend rose modestly to 8.3p per share from 8.0p in 2011, resulting in a full year dividend of 11.7p per share, up from 11.3p.

The company will hold its annual general meeting on February 7th to address shareholders about the results.

Shares were down 1.11%to 285.00p at 11:20 Friday

TUI Travel: Panmure Gordon raises target price from 200p to 245p keeping its sell recommendation.

TUI Travel confirms merger talks with TUI AG
StockMarketWire.com
TUI Travel has confirmed that its independent directors have received an approach from TUI AG which may result in a combination of the two companies.

TUI Travel says talks are at a very early stage, but are on the basis that any such combination, if effected, would be achieved not by a reverse takeover but by means of a nil premium all-share merger.



At 2:49pm: (LON:TT.) share price was +18.45p at 299.85p

Announcement re: Press Speculation
RNS
RNS Number : 7114V
TUI Travel PLC
16 January 2013

For Immediate Release

Not for release, publication or distribution, in whole or in part, in or into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction

This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers (the "Code") and there can be no certainty that an offer will be made

16 January 2013



Announcement by TUI Travel PLC ("TUI Travel") Regarding Press Speculation



The Independent Directors of TUI Travel are aware of recent speculation and are making this announcement in the interests of market clarity. The Independent Directors of TUI Travel have recently received an approach from TUI AG which may or may not result in a combination of the two companies. Discussions are at a very early stage, but are on the basis that any such combination, if effected, would be achieved not by a reverse takeover but by means of a nil premium all-share merger.



In accordance with Rule 2.6(a) of the Code, TUI AG is required, by not later than 5.00 p.m. on 13 February 2013, to either announce a firm intention to make an offer for TUI Travel in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.



This announcement does not amount to an announcement of a firm intention to make an offer and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.



This announcement has been made without the consent of TUI AG.

TUI Travel flying high after approach from TUI AG - UPDATE
By Benjamin Chiou

Wed 16 Jan 2013


LONDON (SHARECAST) - London-listed leisure travel company TUI Travel raced ahead of Wednesday afternoon after the firm confirmed that it has been approached by its German parent company, TUI AG, about a merger.

“The Independent Directors of TUI Travel have recently received an approach from TUI AG which may or may not result in a combination of the two companies,” the company announced.

Shortly after the announcement, the shares, which opened today’s session at 281p, surged 7.32% to 302p by 15:22.

TUI Travel was formed back in September 2007 after First Choice Holidays merged with TUI AG’s travel and tourism division. TUI AG owns 56.4% of the UK company.

Sources had told Reuters earlier in the day that one of the possible “combinations” would be for TUI Travel to buy out TUI AG in an attempt to create synergies between the two groups. However, this – described as a ‘reverse takeover’ - was later denied by the UK-listed company.

TUI Travel said: “Discussions are at a very early stage, but are on the basis that any such combination, if effected, would be achieved not by a reverse takeover but by means of a nil premium all-share merger.”

While TUI AG already owns a majority stake in TUI Travel, it is thought not to have the funds to buy the remaining 43.6% interest that it does not own, these sources told Reuters.


"Far from straightforward"
Analysts at Jefferies responded to the news, saying that the transaction, if any, is “likely to be far from straightforward, the benefits to TUI Travel shareholders unclear and with the risk that the highly rated TUI Travel management is not involved in the new company”.

They pointed out while TUI AG has a big stake in TUI Travel, the parent’s market capitalisation is less than 40%.

“While we believe there could be some synergies, notably a c€50m HQ cost at TUI AG and that there are tax losses to be exploited, we think these could be difficult and costly to realise.

“We also struggle to see why the largely UK shareholder base would want to dilute their equity in the pure play tour operations of TUI Travel, which rose over 70% in the last year, through a nil-premium merger with German-listed conglomerate TUI AG.”

TUI Travel: Morgan Stanley upgrades from underweight to equal-weight keeping its target price of 250p. Exane downgrades from neutral to underperform.

Broker snap: TUI Travel/TUI AG deal unlikely, says Investec
Thu 17 Jan 2013

LONDON (SHARECAST) - Investec has reiterated its 'hold' recommendation for travel and leisure group TUI Travel (TT) after yesterday's announced 'approach' from parent TUI AG (AG), saying that completion of a potential deal looks unlikely.

The broker admitted that any combination of assets between the two companies is "strategically sensible" as they already work together on combining AG's hotel and cruise assets into TT's vacation itineraries.

Analyst James Hollins said: "The combination has been talked about for years and, in our view, a merger (as opposed to an AG acquisition of TT) would limit the need to immediately pay down outstanding convertibles that would be required after an AG takeover.

"It also negates the requirement for either group to fund an outright acquisition (AG currently owns c56% of TT) and the combined entity could still benefit from AG’s considerable tax losses."

Nevertheless, Hollins foresees a number of uncertainties regarding a deal.

He highlighted that lack of "material" merger synergies - likely to be below the €500m mooted in the press - and has concerns about the management structure after the merger, saying that "industry legend" and TT Chief Executive Peter Long would like leave.

Hollins concluded: "The potential TT/AG corporate action has been a share price crutch for some time and we expect it to remain. However, with low deal likelihood and an 11x price-to-earnings multiple to FY13E, we retain our 'hold' and 270p price target on TT."

Shares were up 0.51% at 294p by 09:29 on Thursday.

Is TUI Travel merger a signal to sell?
By Darshini Shah | Thu, 17/01/2013 -

TUI Travel (TT.) and TUI AG have announced early-stage talks on a nil premium all-share merger.

TUI AG is said to be discussing a deal to combine the German travel and tourism group with its 56.4% majority-owned UK business, TUI Travel, in a bid to cut costs.

"Discussions are at a very early stage, but are on the basis that any such combination, if effected, would be achieved not by a reverse takeover but by means of a nil premium all-share merger," TUI Travel said on Wednesday.

TUI AG has until 13 February to decide to make an offer or walk away.

Mixed reaction
The deal would make strategic sense - TUI Travel comprises the whole tour-operating business of the travel group, while TUI AG has hotels and luxury cruise operations, as well as a stake in container shipper Hapag-Lloyd. The companies already work together, combining TUI AG's hotel and cruise assets with TUI Travel's vacation itineraries.

"A merger, as opposed to an acquisition of TUI Travel, would limit the need to immediately pay down outstanding convertibles that would be required after an TUI AG takeover," pointed out James Hollins, analyst at Investec. "It also negates the requirement for either group to fund an outright acquisition and the combined entity could still benefit from TUI AG's considerable tax losses."

However, others were more sceptical of the deal, pointing out that TUI AG lacks the funds needed to buy the remaining 43.6% of TUI Travel that it does not already own. Hollins also voiced doubts that synergies would be considerably below the €500 million (£417 million) mooted in the press.

Sell TUI - analyst
The merger proposal highlighted that TUI Travel shareholders were unlikely to receive a premium for being minority shareholders.

"If an offer was made and accepted it would mean existing TUI Travel shareholders owning shares in an enlarged business with the majority of earnings from tourism, but also cruises and less satisfactorily from container shipping," observed Simon French, analyst at Panmure Gordon. "In effect, they would be swapping shares in a relatively focused business for shares in a conglomerate."

He acknowledged that there was a strong argument for shareholders to sit tight and do nothing, but still reiterated his 'sell' recommendation.

"Given the shares have almost doubled and there are ongoing problems with the Dreamliner aircraft, now seems a very opportune moment to sell shares," he stressed.

Darshini Shah - author of another article a few days ago about TCG saying it was time to sell TCG. Maybe she doesn't travel particularly well, but in any case I don't think she has much street cred. I don't hold any TUI shares, if I did I certainly wouldn't be pancking to sell on the basis of this article.

I find it best to use your own nose as to speak when to sell. I have learnt this the hard way with the likes of the shares mags saying sell.

TUI Travel (LON:TT.) has dropped to the bottom of the FTSE 100 after its German parent said it will not be making a bid for the tour operator.

Speculation in the press last week led Europe’s largest tour operator to confirm that an initial approach had been made by TUI AG, which already own more than half of the company.

But it warned over-eager investors that talks were at a very early stage, with a deal by no means done and dusted.

The news that the all-share merger has fallen through dragged shares 4% lower today.

And TUI AG, which is looking to turn its attention to tourism, will now not be able to make an offer for the travel company in the next six months under UK takeover

TUI Travel: Citigroup takes target price from 175p to 300p, while leaving its neutral rating unaltered.

Broker snap: TUI Travel's valuation 'too generous', says Panmure Gordon
Fri 01 Feb 2013


LONDON (SHARECAST) - Panmure Gordon has kept its 'sell' rating for travel and leisure firm TUI Travel ahead of its first-quarter results next week on concerns over current trading.

"We believe current trading is strong reflecting the tailwind of 2012 being the wettest year on record in England, but still see headwinds in continental Europe," the broker said.

Analysts highlighted research which suggests that 40% of UK consumers intend on spending less on holidays abroad in 2013.

"We also have concerns around rising fuel prices, a weak macroeconomic backdrop in the group’s major markets and note the problems with the Dreamliner aircraft the group has made significant investment in."

The shares are trading at 10.7 times 2013 current-year earnings and while this is a sharp discount to sector peer Thomas Cook (also rated 'sell'), Panmure said the valuation is "still too generous" given the stock's five-year average forward price-to-earnings ratio of 8.8.

The broker said that last month's called-off bid approach from parent company TUI AG highlighted that it "does not want to pay a premium for control of this minority".

Panmure has maintained a 245p target price for the shares, implying around a 16% potential downside to current prices.

Nevertheless, shares were up 1.38% at 294.8p by 10:30 on Friday.

Friday brings us a first-quarter update from TUI Travel . While fellow high-street travel agent Thomas Cook (Xetra: A0MR3W - news) was just about escaping insolvency by the skin of its teeth, TUI Travel managed to weather the storm without harm to its dividend, and has emerged strongly with a couple of years of earnings growth.

With the shares on 295p, the latest analysts' consensus for the year to September puts them on a P/E of under 11, with a 4.2% dividend yield expected. News (NasdaqGS: NWS - news) on the important winter booking season will be keenly awaited.

1st Quarter Results

· Outperformance in UK & Nordic markets

· Our unique holidays driving increases in UK market share

· Q1 underlying operating loss reduced by 15%1

· Expect performance towards the top end of roadmap guidance for full year2



Highlights

· Positive trading momentum

- Operating loss reduced by £16m to £93m (excluding the impact of empty leg accounting1 which has no full year impact). Underlying Q1 operating loss of £116m (2012: loss of £109m).


- Significant continued growth in UK cumulative market share (GFK Ascent) with Summer 2013 up 4% and the key January booking period up 2%, gaining on the 7% increase in the same period last year.


- Strong trading in the Nordic region and Accommodation Wholesaler.

· Unique holidays and direct distribution strategies delivering

- Unique holiday bookings in the UK, Nordics and Germany increased by 15%, 10% and 6% year-on-year respectively for Summer 2013.


- Direct distribution sales in the UK and Nordics for Summer 2013 of 90% (2012: 89%) and 85% (2012: 84%) with online sales accounting for 37% (2012: 36%) and 65% (2012: 63%) respectively.

· Online Accommodation growth

- Accommodation Wholesaler continues to build a global leadership position with TTV up by 9% for Summer 2013, driven by Latin America and Asia where TTV is up by 23%.

· Strong current trading

- Winter 2012/13 - 83% sold with higher margins and average selling prices in key source markets.

- Strong Summer 2013 bookings in the UK and Nordics, up 9% and 10% respectively.


- Summer 2013 margins ahead of prior year in key source markets.

TUI Travel: Bank of America takes price target from 335p to 355p, while its buy recommendation is unchanged

TUI Travel: Barclays shifts target price from 320p to 325p and keeps an overweight rating. Deutsche Bank takes price target from 265p to 275p leaving its hold recommendation unaltered.

TUI Travel: JP Morgan shifts target price from 320p to 350p reiterating an overweight rating.

Broker snap: Panmure Gordon upgrades TUI Travel to 'hold'
Fri 15 Feb 2013

TT. - TUI Travel

Latest Prices
Name Price %
TUI Travel 318.30p +0.51%

FTSE 100 6,347 +0.30%
FTSE 350 3,405 +0.31%
FTSE All-Share 3,337 +0.30%
Travel & Leisure 5,869 +0.25%

LONDON (SHARECAST) - Panmure Gordon has raised its rating for travel and leisure group TUI Travel from 'sell' to 'hold', saying that there are now few catalysts for the stock to underperform.

Nevertheless, the broker reiterated its cautious view on the macroeconomic environment "with most source markets suffering challenging economic conditions combined with rising fuel costs".

Meanwhile, a weakening pound could also affect accommodation costs in the UK market next year which would put pressure on margins.

"However the group is outperforming operationally, free cash flow generation is improving and with renewed effort from TUI AG to optimise the corporate structure of the two companies we see few catalysts for the stock to underperform," Panmure said.

In regards to the corporate structure, the broker highlighted comments from outgoing Chief Executive Officer Michael Frenzel who said that the doubled structure of TUI Travel and parent TUI AG (which owns 56.4%) is not optimal and synergies could be realised from a simpler structure.

Panmure has raised its current- and forward-year earnings per share forecasts by 2-3% to reflect TUI Travel's stronger first quarter performance (announced last week) and solid booking trends for the remainder of Winter 2012/13 and Summer 2013 in the UK and Nordics.

As such, the target price has been lifted from 245p to 303p.

Shares were up 0.6% at 318.6p by 10:09 on Friday.

Thomson hit by Dreamliner delays
By Nathalie Thomas | Telegraph – 2 hours 23 minutes ago.. .


Holiday giant Thomson has been forced to downgrade passengers who had paid extra to travel on a Boeing (NYSE: BA - news) 787 Dreamliner this summer to alternative aircraft as problems persist with the flagship jets.

Thomson Airways, part of the FTSE 100 (FTSE: ^FTSE - news) group TUI Travel (LSE: TT.L - news) , had last month been due to receive the first of eight Dreamliners it had on order from Boeing, followed by a further three by the end of May.

The holiday company had planned to start its first Dreamliner flights to destinations such as Cancun in Mexico and Florida in May but has been forced to switch customers to different planes after Boeing was not able to confirm a delivery date.

Boeing’s Dreamliner fleet has been grounded for seven weeks following several incidents involving the aircraft’s lithium-ion batteries. The batteries are currently the subject of an investigation by the US National Transportation Safety Board (NTSB), a federal agency, which will publish its interim findings by March 9.

Thomson will downgrade customers to a 767 long-haul aircraft and will refund the supplement holidaymakers had paid to fly on one of its first Dreamliner flights. Customers will also have a choice to change their holiday without any amendment fees.

“We understand how frustrating and disappointing this news will be for those customers looking forward to flying on the 787 Dreamliner, we are equally as disappointed that Boeing was not able to confirm a delivery date for us but unfortunately these circumstances are out of our control,” the group said in a statement.

A spokeswoman for Thomson would not comment on whether the group is seeking compensation from Boeing. TUI Travel, which also owns the First Choice brand, had ordered 13 Dreamliner aircraft in total.

Boeing said: “We deeply regret the impact the recent events have had on Thomson’s upcoming schedule and their customers.”

The NTSB launched an investigation following a battery fire on a 787 operated by Japan Airlines in January while it was parked at Boston Logan Airport.

MIDAS SHARE TIPS: Holiday group TUI aims for 10 per cent a year profit rise, as families take advantage of package breaks




By Joanne Hart, Financial Mail On Sunday

PUBLISHED:22:20 GMT, 9 March 2013| UPDATED:22:20 GMT, 9 March 2013


As Thomas Cook cuts 2,500 jobs and closes stores, rival TUI Travel, Britain’s leading holiday group, is having a strong start to the year and its shares have long-term potential.

TUI Travel was formed in 2007 from the merger of First Choice Holidays and German business TUI Tourism. The company is one of the largest travel groups in the world, with about 30million customers annually, and more than 240 brands, including Thomson, Sovereign Luxury Travel, Hayes & Jarvis and LateRooms.

For many people, package holidays conjure up visions of scantily clad youngsters drinking too much lager, making too much noise and generally behaving badly. But many of TUI’s customers are over 50 and its family groups tend to include older children rather than younger ones.




Affordable: TUI prides itself on all-inclusive trips, so families know their exact costs before travelling

The company has also adopted a policy of exclusivity, so 90 per cent of its holidays are available only through TUI brands.

The strategy, developed by chief executive Peter Long, seems to be working well and TUI is focusing on growth. Long intends to deliver an increase in underlying profits of seven to ten per cent a year between now and 2018 and only last month said that he expected this year’s results to be at the top of that range.

Analysts expect profits to rise from £390 million in 2012 to more than £430million for the year to September 30 with the dividend increasing from 11.7p to 13p. Next year, profits of at least £465 million are forecast, alongside a dividend of 14p.




More...
SHARE PRICE: TUI Travel PLC
More than half of parents happy to take children out of school during term time to save on holiday costs


Holiday industry experts have been predicting the demise of the package holiday for years, particularly since low-cost airlines such as Ryanair and easyJet began to offer cut-price flights. The economic downturn was also expected to hit the sector hard.

However, TUI’s customer numbers have been growing. A series of disappointing summers have made even cash-strapped consumers determined to head for the sun and many see a package as the most cost-effective way to go. TUI prides itself on all-inclusive trips so customers know exactly what they will spend before they step onto a plane. The group’s scale also means it can secure attractive rates with hotels.

Most of TUI’s customers come from Britain, Germany and Scandinavia, but the group has sizeable operations in Belgium, Holland and France as well. Over time, Long hopes to add more customers from those countries, encourage them to spend more of their holiday money with TUI and attract customers from emerging markets, particularly Russia and other cold Eastern European states.

The group has already taken 600,000 Russians to places such as Turkey and Egypt and expects strong growth from the country as consumers become wealthier.

TUI still has 1,800 travel agencies across Europe but around half of its business is now sourced online and that percentage is likely to increase. However, there are still millions of people who prefer to book their summer holidays face to face, so the retail chain remains important.

Midas verdict: TUI shares have had a good run lately, but there is plenty more mileage in the stock. The group’s holidays range from sun in Spain to hiking in the Himalayas to Arctic cruises, so most needs are catered for at prices that millions of consumers can afford. Long has a clear strategy and he has shown he can deliver. The shares, which closed on Friday at 309p, are a buy.

In its next trading update, due on Wednesday, TUI Travel will issue its first half pre-close trading update. Panmure Gordon expects a particularly strong performance in the UK, reflecting the on-going cold and wet weather.

The broker is forecasting £533m in EBITA for fiscal year 2013, broadly in line with consensus, rising to £581m next year.

TUI Travel names Friedrich Joussen as chairman
StockMarketWire.com
TUI Travel said, in accordance with a relationship agreement between it and TUI AG, non-executive chairman Michael Frenzel has stepped down, and has been replaced by Friedrich Joussen.

The change would take place with immediate effect. Joussen had earlier replaced Frenzel as CEO of TUI AG.

Further, Sebastian Ebel, Director of Planning at TUI AG, will join the Board as a Non-Executive Director with immediate effect.

At 9:51am: (LON:TT.) share price was -0.45p at 310.55p

Wednesday's agenda: TUI Travel to provide ray of sunshine
6:30 pm by John Harrington



TUI travel (LON:TT.) will report its pre-close trading update on Wednesday and it is a fairly safe bet it will be sitting prettier than perennial rival Thomas Cook.

Having said that, Thomas Cook recently reported that the trading environment remains solid and that its margins for the summer were improved, which bodes well for TUI travel.

"Our channel checks suggest the trend of good demand for premium holidays has remained, which benefits TT’s unique holiday concept," Morgan Stanley said in a note last week.

"We expect TUI travel to confirm it is on track to meet recently upgraded guidance on a constant currency basis," the US bank said.

Trading Update

Highlights

· Modern Mainstream driving trading momentum


- Winter 2012/13 programme ending strongly with improved margins and average selling prices across key source markets.


- Very strong trading momentum continuing into Summer 2013:


- UK and Nordic bookings up 9%, with higher margins.


- Maintaining cumulative market share increase of four percentage points over the prior year in the UK (GFK Ascent).

· We continue to execute on our proven strategy


- Unique holiday bookings in the UK, Nordics and Germany increased by 15%, 12% and 9% year-on-year respectively for Summer 2013.


- Direct distribution sales in the UK and Nordics for Summer 2013 of 90% (2012: 90%) and 86% (2012: 85%).


- Online sales account for 40% (2012: 39%) in the UK and 67% (2012: 65%) in the Nordics.


- Business improvement programme progressing to plan.

· Online Accommodation growth


- Accommodation Wholesaler continues to build a global leadership position with TTV up by 10% for Summer 2013, driven by Latin America and Asia where TTV is up by 19%.

TUI Travel: Numis increases target price from 310p to 350p and upgrades to add.

Panmure Gordon has maintained a 'hold' rating for travel leisure firm TUI Travel, saying that while the first half was strong, shares are fully valued.

The stock is trading at 11.1 times estimated 2013 earnings, in line with the market. Historically, the broker said that tour operator usually trade between a 25% discount and in line with the market and normally underperform over the April to September period.

:-))

A buy in this weeks shares mag - Interim results 10 May, do not be surprised if Tui Travel (TT.) presents vintage summer holiday bookings figures for 2013. After a bleak summer and a positively Baltic winter of discontent that lasted well into April in the UK. A prospective yield of 4.0% on a dividend more than twice covered also catches the eye. A PE of 11 times is not unduly expensive for a stock forecast to grow earnings by 8% this year and 9% next.

Is Now The Time To Buy TUI Travel PLC?
Fool.co.ukBy Rupert Hargreaves | Fool.co.uk – 4 hours ago...



I'm always searching for shares that can help ordinary investors like you make money from the stock market.

So right now I am trawling through the FTSE 100 (FTSE: ^FTSE - news) and giving my verdict on every member of the blue-chip index. Simply put, I'm hoping to pinpoint the very best buying opportunities in today's uncertain market.

Today I am looking at TUI Travel (LSE: TT.L - news) to determine whether you should consider buying the shares at 316p.

I am assessing each company on several ratios:

Price/Earnings (P/E): Does the share look good value when compared against its competitors?

Price Earnings Growth (PEG): Does the share look good value factoring in predicted growth?

Yield: Does the share provide a solid income for investors?

Dividend Cover: Is the dividend sustainable?

So let's look at the numbers:
Stock Price 3-yr EPS growth Projected P/E PEG Yield 3-yr dividend growth Dividend cover

TUI Travel 316p 36% 11.4 1.6 3.7% 6% 2.2

The consensus analyst estimate for this year's earnings per share is 27.6p (7% growth) and dividend per share is 12.6p (8% growth).

Trading on a projected P/E of 11.4, TUI (Xetra: TUAG00 - news) appears cheaper than its peers in the travel and leisure sector, which are currently trading on an average P/E of around 20.

TUI's P/E and high single-digit growth rate give a PEG ratio of around 1.6, which implies the share price is slightly expensive for the near-term earnings growth the firm is expected to produce.

Offering a 3.7% yield, TUI's dividend yield is above the sector average of 2.4%. In addition, TUI has a three-year compounded dividend growth rate of 6%, implying the yield will continue to rise above that of its peers -- albeit slowly.

Indeed, the dividend is more than two times covered by earnings, giving TUI plenty room for further payout growth.

So, is now the time to buy TUI Travel

TUI Travel is one of the world's leading leisure and travel companies, with more than 240 brands covering 180 countries. Indeed, it is this market-leading position and geographical diversification that leads me to believe that TUI is currently undervalued.

You see, while TUI's main peer, Thomas Cook (Xetra: A0MR3W - news) , struggles with falling sales due to the economic environment, TUI's geographical diversification has allowed the company to continue growing, despite falling sales in some of its key markets.

In particular, within the company's most recent trading update, TUI announced that while its sales of winter holidays to French customers had fallen 25%, sales of holidays to customers in the UK and Nordic (SES: E2:MR7.SI - news) regions had offset the entire decline and overall, sales grew by 2%.

Furthermore, TUI reported within the same statement that group sales of summer holidays for 2013 had expanded 7%, with growth underpinned once again by double-digit sales growth to customers in the UK and Nordic regions.

So overall, based on TUI's low relative valuation, continuing growth and solid dividend yield, I believe now looks to be a good time to buy the shares at 316p.

TUI Travel PLC (TT.:LSE) set a new 52-week high during Tuesday's trading session when it reached 338.40. Over this period, the share price is up 84.50%.

Interim Result

10 May 13 TUI Travel PLC [TT.]

Interims should make good reading tomorrow.

Agree d4,


TUI travel (LON:TT.) releases interim results covering the quiet part of the holiday calendar, so no doubt interest will focus on bookings for the summer season.

"The travel/holiday market has got off to a strong start in most core source markets, and in particular in the UK. We expect a continuation of the positive narrative that has accompanied the trading updates so far in 2013 – although, as we move through the summer, the outperformance is likely to moderate," suggests Peel Hunt's Nick Batram.

"The underlying seasonal EBIT [underlying earnings] loss in H1 last year was £317m and, on a like-for-like basis (excluding impact from empty leg accounting), we expect an improvement of c£20m-30m," reveals Batram, who rates the shares a 'hold'.

Interim Results for the six months ended 31 Mar 13

Highlights

- Operating loss reduced by £43m to £274m (excluding the impact of empty leg accounting2 which has no full year impact). Underlying H1 operating loss of £289m (H1 2012: loss of £317m).


- UK & Nordics source markets delivered H1 revenue growth of 5% and 10% respectively. UK underlying operating loss reduced by £22m to £103m2 and Nordics operating profit by £14m to £36m2.
- France operating loss reduced by £11m to £50m2. Our turnaround plans continue to deliver, offsetting difficult trading conditions in the tour operator.


- Business improvement programme progressing to plan with £17m of cost savings delivered.

- Interim dividend increase of 10% to 3.75p (H1 2012: 3.40p).


- Free cash outflow improvement of £233m to £774m. The net debt position excluding asset-backed financing of £369m (H1 2012: £205m) at 31 March 2013 was £680m (31 March 2012: £979m).




http://www.moneyam.com/action/news/showArticle?id=4592108

Duplicate

TUI Travel: Numis ups target price from 350p to 375p and reiterates an add rating. Panmure Gordon moves target price from 303p to 315p, while its hold recommendation is reiterated.

TUI Travel tips profits to take off
By Jamie Nimmo May 10 2013, 8:51am The second half of the year normally sees travel companies make a profitThe second half of the year normally sees travel companies make a profit

Tour operating giant TUI Travel (LON:TT.) has boasted that it will boost full-year underlying operating profits by 10%.

The owner of the Thomson and First Choice holiday brands cut pre-tax losses in the first half of the year to £346mln from £367mln in what is typically the loss-making season for travel companies. The second half of the year normally sees them benefit from the lucrative summer holiday period.

Summer sales at its British and Nordic business rose 13% and 14% respectively, with 58% of its overall summer programme already sold to holidaymakers.

The company lifted the interim dividend by 10% to 3.75p.

TUI’s chief executive Peter Long said: “Our strategy of focusing on unique holidays and putting our customers at the heart of our business continues to deliver strong growth.

“With our market leading brands and scale we have the ability to give our customers great holiday experiences, at terrific value, in a segment of the market that is increasing in popularity.”

He added: “Given current trading and the visibility we have within our businesses we anticipate full year underlying operating profit growth of at least 10% on a constant currency basis.”

Shares rose 1.6% to 346p each.

Invest in high-flying air travel

PROFESSIONAL investors are tipping the air travel industry to deliver strong returns in the coming decades, fuelled by huge rises in demand from emerging markets.

Global passenger traffic grew 5.9% in the 12 months to the end of March, with long-haul travel increasing even more than domestic, according to the International Air Transport Association (Iata). Emerging markets led the way, with flights from the Middle East, Latin America and Africa up by 15.6%, 11.8% and 8.2% respectively.

Iata expects air travel growth to continue at 5% on average for the next 20 years.

Sunday Times





























Invest in high-flying air travel


Airline industry firms are tipped to take off as passenger numbers soar


Anna Mikhailova Published: 12 May 2013

Comment (0)
Print

Shares in International Airlines Group rose by 53% in a year (Izabela Habur)

PROFESSIONAL investors are tipping the air travel industry to deliver strong returns in the coming decades, fuelled by huge rises in demand from emerging markets.

Global passenger traffic grew 5.9% in the 12 months to the end of March, with long-haul travel increasing even more than domestic, according to the International Air Transport Association (Iata). Emerging markets led the way, with flights from the Middle East, Latin America and Africa up by 15.6%, 11.8% and 8.2% respectively.

Iata expects air travel growth to continue at 5% on average for the next 20 years.

difficult to determine whether TT or TCG is a better investment at current levels .... both have their appeal, but while TCG has outperformed TT astronomically, TCG was of course starting from a very low base

indeed, the 5-year chart below (TT is blue; TCG is red) would imply TCG still has greater near-term upside, but input from others would be useful

Thanks for your input Cynic.
TUI Travel: UBS moves target price from 325p to 375p and maintains a buy recommendation.

JP Morgan Cazenove Neutral 350.50 350.50 350.00 360.00 Downgrades

Jefferies International Hold 350.50 350.50 300.00 315.00 Reiterates

Director sell;

14 May TUI Travel PLC TT. Peter Long 1,135,428 @ 350.50p £3,979,675.14

TUI Travel PLC (TT.:LSE) set a new 52-week high during today's trading session when it reached 356.80. Over this period, the share price is up 101.70%.

In IC this week - Bullish Tui cranks up forecasts.

Tui makes a great play of its focus on customer satisfaction, but it has made investors pretty happy too. The tour operator cut losses more than expected during the traditionally weaker first half and, with the summer shaping up nicely management forecasts growth in annual under lying operating profit of at least 10%,
on a constant currency basis. A rush of late winter bookings, cost cutting and an early easter slashed half year losses from £317m to £289m - way ahead on consensus forecasts. Strip out the cost of returning empty planes at the end of the season and that drops to £274m. Profit margins and prices improved sharply, too, driven by UK and Nordic region. Analysts at Barclay's expect full year adjusted pre-tax profit of £434m, giving adjusted EPS of 29p ( from £390m and 26p in 2012)

The leisure industry was well represented on the leaderboard today, helped by the upbeat CBI service sector survey, with holiday operator TUI Travel gaining 11.55p at 370.05p .

Should I Buy Tui Travel Plc?
Fool.co.ukBy Harvey Jones | Fool.co.uk – 3 hours ago...


Tui Travel (LSE: TT.L - news) 's share price has been flying lately, up 33% over the past six months. Over 12 months, it has soared a gravity-defying 120%, compared to just 25% for the FTSE 100 (FTSE: ^FTSE - news) . Have I left it too late to hop on board?

Investors in Tui Travel, which owns Thomson and First (Other OTC: FSTC - news) Choice, have had plenty of fun in the sun but, like any holiday romance, it is difficult to sustain in the longer term. Yet the world's largest tour operator has staying power, grabbing profitable market share and cashing in on strong demand from sun-hungry, recession-sick Brits and Nordics. Tui (Xetra: TUAG00 - news) 's full-year underlying operating profit growth is on course to hit 10%, according to its recent interim six-monthly results.

Fun in the sun

Tour operators typically lose money in the winter, when seasonal bookings are sharply down, but Tui has been trimming its losses. Operating loss fell £43m to £274m, a drop of 14%. Pre-tax losses shrunk by £53m to £404m, despite a 1% drop in Q1 revenue to £5.39bn.

The annual summer holiday is one tradition most of us still like to observe. Summer 2013 bookings are up 15% in the UK, 11% in the Nordics and 9% in Germany, offsetting a slowdown in France. That's the benefit of diversification. The internet has whacked many a business model, but package holidays could be a surprise exception. Maybe we're getting a bit tired of DIY holidays, and want somebody to do the legwork for us, at an all-inclusive price. Tui has also fought back through its strategy of offering "unique holidays" unavailable elsewhere.

Tui or not Tui?

Management is confident, hiking the interim dividend 10% to 3.75p. That leaves Tui yielding 3.3%, close to the FTSE 100 average and nicely covered 2.2 times. This is forecast to rise to 3.9% by September 2014. Despite the recent share price surge, at 13.9 times earnings this stock isn't as pricey as I would have expected (it has largely been making up lost ground after a troubled 2010 and 2011). Earnings per share (EPS) growth of 11% in the 12 months to September and 10% to September 2014 suggest Tui could still have a little further to travel.

If you want the sun to shine on your retirement then don't miss our special report 5 Shares To Retire On. This free report by Motley Fool share analysts names five FTSE 100 favourites to secure your retirement. To find out more, download this report now. It won't cost you a penny, so visit www.fool.co.uk today.

Proposed Purchase of Aircraft

RNS


RNS Number : 9775F

TUI Travel PLC

31 May 2013




31 May 2013

TUI Travel PLC

Proposed Purchase of 60 Narrow-Bodied Boeing 737 MAX Aircraft



- Commitment to purchase 60 Boeing 737 MAX aircraft (subject to shareholder approval)

- Option and right to purchase up to a further 90 Boeing 737 MAX aircraft

- Multi-billion pound investment in the future of the business

- Continuation of unique holidays strategy



TUI Travel PLC ("TUI Travel" or "the Group"), one of the world's leading leisure travel companies, is pleased to announce, subject to shareholder approval, a commitment to purchase 60 narrow-body Boeing 737 MAX aircraft from The Boeing Company ("Boeing") as part of its fleet renewal strategy and move to Modern Mainstream.



Key points of the proposed transaction:



- TUI Travel will purchase 60 Boeing 737 MAX aircraft powered by LEAP-1B engines manufactured by CFM International ("CFM").

- TUI Travel has secured a significant discount to the list price of each aircraft through various concessions, allowances and support from Boeing. At current list prices, the value of 60 Boeing 737 MAX aircraft that TUI Travel is committed to purchase is $6.09 billion (GBP £4 billion).

- TUI Travel has the option to acquire up to a further 60 Boeing 737 MAX aircraft on the same terms as the committed 60 aircraft.

- TUI Travel has been offered the right to purchase a further 30 Boeing 737 MAX aircraft on terms to be determined at the time of exercising this purchase right.

- The delivery period for the 60 committed aircraft will start in January 2018 and run until March 2023.

- 40 of these aircraft will be the Boeing 737 MAX-8 variant and 20 of these aircraft will be the Boeing 737 MAX-9 variant. The 737 MAX-9 variant offers circa 10% more seat capacity than the 737 MAX-8.

- The Group will also be required to purchase eight spare LEAP-1B engines from CFM to support the committed 60 aircraft at an aggregated list price of $104 million (GBP £68.7 million). TUI Travel has, however, secured substantial price concessions against this list price.



Benefits of the proposed transaction:



- Following the delivery of the aircraft, TUI Travel will continue to enjoy the benefits of a modern, fuel-efficient and cost-effective aircraft fleet.

- The 737 MAX aircraft utilise a new technology engine type from CFM which Boeing asserts results in a 13% improvement in fuel efficiency and a 40% noise reduction over today's main competitors.

- Lower per seat costs than current generation aircraft and competitor products.

- The 737 MAX aircraft incorporate the best future engine technology for unprecedented levels of efficiency, reliability and passenger appeal.



TUI Travel owns and operates six European airlines across its Mainstream Sector - Thomson Airways, TUIfly, TUIfly Nordic, ArkeFly, Jetairfly and Corsair - with 141 aircraft in aggregate. Five of these airlines operate 114 narrow-body aircraft between them serving short and medium-haul destinations. Approximately 80% of the Group's airline passengers travelled on narrow-bodied aircraft to short and medium-haul destinations for their holiday during the last financial year. Having a modern, cost-efficient and reliable fleet is strategically important to the Group. In order to maintain cost competitiveness and support TUI Travel's aim to minimise the environmental impact of its activities, the existing narrow-bodied aircraft will need to be replaced in the next decade. The proposed transaction will ensure that the Group has sufficient aircraft to fulfil its long-term plans and that the expected accrued value justifies the cost of the purchase.



Peter Long, Chief Executive of TUI Travel PLC, said:

"A major part of TUI Travel's strategy is to provide our customers with unique holiday experiences they can only get from us. This multi-billion pound investment in the B737 MAX - representing the future generation of more fuel-efficient aircraft for our short and medium-haul programmes - will be a further driver in delivering this. It comes as the first of our Boeing 787s touches down in the UK to commence replacement of our long-haul fleet with best in class aircraft. We are leading the way in re-defining mainstream holidays and putting our customers at the heart of everything we do is integral to our continued growth. I can confidently say that being able to offer our customers the most advanced, comfortable aircraft, whether they are travelling with us to short or long-haul destinations, while reducing our environmental impact, will only strengthen our position."



Shareholder Approval The proposed transaction is a Class 1 transaction for the purposes of the UK Listing Rules and consequently is subject to the approval of TUI Travel shareholders to whom a circular setting out details of the proposed transaction will be sent to in due course. Lazard is acting as Sponsor to TUI Travel for the purposes of the UK Listing Rules in relation to the proposed transaction.

31 May Morgan Stanley 320.00 Equal weight
31 May Credit Suisse 377.00 Neutral

3 Jun Deutsche Bank 320.00 Hold

14 Jun Morgan Stanley 320.00 Equal weight

21 Jun Morgan Stanley 320.00 Equal weight

28 Jun Morgan Stanley 320.00 Equal weight

TUI Travel signs new credit facility

Mon, 01 July 2013



TUI Travel has signed of a new medium-term £300m bank credit facility, maturing in April 2016.

The leisure company said the funds would be used to strengthen its capital structure and underpins its debt maturity profile over the coming years.

The transaction was co-ordinated by the Royal Bank of Scotland and involved a syndicate of the company's banks.

Covenants remain in line with those provided under the existing bank facilities.

Will Waggott, Chief Financial Officer, said: "We are pleased to have agreed this new credit facility which will improve the flexibility and strength within our capital structure and demonstrates the continued strong support for the group from our banks."

Result of Meeting

http://www.moneyam.com/action/news/showArticle?id=4629010

TUI Travel aircraft acquisition approved

StockMarketWire.com

Travel operator TUI Travel (TT.) announces that, at the General Meeting held on 9 July 2013, the resolution for the proposed purchase of Boeing Aircraft, as set out in the Notice of Meeting dated 14 June 2013, was duly passed on a poll.

At 12:06pm: (LON:TT.) share price was +0.55p at 374.25p


Story provided by StockMarketWire.com

TUI Travel PLC (TT.:LSE) set a new 52-week high during today's trading session when it reached 379.90. Over this period, the share price is up 121.14%.

26 Jul Morgan Stanley 320.00 Equal weight

Interim Result


07 Aug 13 TUI Travel PLC [TT.]

1 Aug Deutsche Bank 335.00 Hold

2 Aug Morgan Stanley 320.00 Equal weight

TUI Travel PLC (TT.:LSE) set a new 52-week high during today's trading session when it reached 390.50. Over this period, the share price is up 105.19%.

TUI Travel PLC (TT.:LSE) set a new 52-week high during today's trading session when it reached 401.50. Over this period, the share price is up 106.64%.

Wednesday's agenda: TUI Travel to make a splash
By John Harrington
August 06 2013, 6:48pm
Attention at TUi Travel will focus on current booking patterns and outlook commentsAttention at TUi Travel will focus on current booking patterns and outlook comments


Travel operator TUI travel may be in competition with Thomas Cook but it will have been heartened by its competitor's recent update, which showed that cold weather in Northern Europe earlier this year boosted holiday bookings, though the recent heat wave may have taken the shine off this uplift somewhat.

Morgan Stanley forecasts underlying earnings (EBIT) of £80mln, "once we adjust for the change in accounting of empty legs (-£10m) and the shift in Easter to March (-£11m)".

"GfK reported that by mid-June package holiday bookings in the UK were +4% in a leisure outbound market -2% overall, so while comps are getting tougher (lates market was very strong last year due to cold weather), it seems like package holiday sales remain strong.

"In Germany, GfK reported summer holiday package holiday sales +6% as of May, and TUI Germany’s CEO said sales had continued to improve since the H1 results, with strong bookings for beach destinations and weaker for local or nearby holidays, which are lower margin," Morgan Stanley said.

3rd Quarter Results

Third Quarter Results ended 30 June 2013 and Interim Management Statement

· Strong demand across key markets
· Demand for our unique holidays continues to grow
· Q3 underlying operating profit up by 18%1
· Very confident of achieving full year underlying operating profit growth of at least 10%2
· Well positioned to continue to deliver our five year growth roadmap.


Highlights

· Q3 Results

- Operating profit improved by £13m to £87m (excluding the impact of empty leg accounting1 which has no full year impact) despite an £11m impact from the timing of Easter. Underlying Q3 operating profit of £76m (Q3 2012: £74m).

- Continued market outperformance in the UK with strong margins, load factors and capacity growth.

- Strong trading in the Nordic region and Accommodation Wholesaler.

- Business improvement programme progressing to plan with £11m of cost savings delivered.

- Operational cashflow improvement of £198m in the third quarter compared with the same period last year.

· Sustained growth in demand for unique holidays

- Unique holiday bookings in the UK, Nordics and Germany increased by 14%, 11% and 9% year-on-year respectively for Summer 2013.

- Direct distribution sales in the UK and Nordics for Summer 2013 of 91% (2012: 90%) and 88% (2012: 87%) respectively.

- Online sales account for 47% (2012: 45%) in the UK and 69% (2012: 68%) in the Nordics.

- MyThomson mobile app launched into Apple App Store in June with high ratings and over 120,000 downloads to date. Develop once and roll out across all markets.

· Online Accommodation growth

- Accommodation Wholesaler continues to build a global leadership position with TTV up by 19% for Summer 2013.

· Positive current trading momentum

- Summer 2013: 84% of the overall Mainstream programme now sold.

- Strong high-season Summer 2013 trading in the UK and Nordics, revenues up 11% and 10% respectively.

- Encouraging start to Winter 2013/14 trading.

Panmure Gordon has maintained its 'hold' recommendation for travel operator TUI Travel despite strong trading in the third quarter, as it reiterated its preference for sector peer Thomas Cook.

"Whilst we believe TUI Travel is a strong operator with good long-term growth potential, in our view Thomas Cook offers more substantial upside from the improvement in underlying like-for-like trading, in addition to potential increases to cost savings targets and future dividend payments."

Numis ups target price from 375p to 400p, while downgrading to hold.

Shares today - Market report: TUI Travel experiences turbulence


On a day in which the FTSE 100 remains in the red, down 47 points to 6557.2 following falls overnight on Wall Street and in Asia, TUI Travel (TT.) tumbles the best part of 5% to 382.1p. Investors book profits after a strong share price run despite the £4.49 billion cap posting a cheery third quarter trading statement in which it flags strong demand in the UK and Nordics and growing demand for its unique holidays.

Operating profits rose 18% to £87 million in the quarter ended 30 June and with cost cutting going to plan, chief executive Peter Long is very confident of delivering underlying annual operating profits growth of at least 10%. As well as brisk high-season summer trade, Long says winter bookings for 2013/14 have begun strongly for the Crawley-based business. Highlighting the strength and resilience of the business model, Numis Securities upgrades its price target from 375p to 400p. However Panmure Gordon has a 315p price target for TUI and sticks with its ‘hold’ rating ‘based upon the stock trading at a premium to Thomas Cook (TCG), whilst holding less earnings growth potential, in our view.’

Beaufort Securities cuts TUI Travel to hold from buy

Date

Broker

New target

Recomm.


8 Aug Beaufort... N/A Hold
8 Aug Exane BNP... 350.00 Neutral
8 Aug Nomura 310.00 Neutral
7 Aug Numis 400.00 Hold
2 Aug Morgan Stanley 320.00 Equal weight
1 Aug Deutsche Bank 335.00 Hold

9 Aug Investec 400.00 Hold
9 Aug Morgan Stanley 360.00 Equal weight

Forget the fears over the euro crisis, Britons are off on a euro-break

By Sarah Bridge

PUBLISHED: 22:10, 10 August 2013 | UPDATED: 11:31, 11 August 2013


British holidaymakers are putting fears over the euro crisis behind them and returning to the debt-laden countries of southern Europe – leading to a boom-time for tour operators.

Tourists, many put off North Africa by recent political turmoil, are returning in the hope of picking up some bargains.


TUI Travel’s chief executive Peter Long said: ‘Markets such as Greece recovered really quickly and business is now strong. These countries will always be popular and now they are seen as offering great value too.’



Spain is thought to be the most popular destination among Europeans

Mark Warner, which handles about 26,000 holidaymakers every summer, says that Greece in particular is much stronger than last year. Marketing director Tim Locke said that the company, which has four of its eight resorts there, was seeing a sharp rise in bookings, especially in Rhodes and Lemnos.


‘People aren’t being put off by the financial situation and in fact demand for Greece is bigger than ever,’ he said.




Mark Warner’s financial performance last year was its best since 2006, after renegotiating contracts with airlines and hotels.


Accounts for the year to the end of October show an 11 per cent increase in turnover to £42.6 million and a profit of £395,200, compared with a loss of £225,800 the previous year. Locke expects even stronger figures this year.


Other tour operators also saw customers unfazed by Greece’s financial woes. Dudley der Parthog, a director at Sunvil Holidays, one of the longest-established tour operators to the region, estimated that revenues were up 20 per cent on last year.


‘Greece has gone back to pre-2008 levels, which is really quite remarkable,’ he said. ‘There was a toxic cocktail which meant people were put off from coming last year. But that’s led to pent-up demand which, when you factor in the problems in North Africa, means that everything is turning out much better for Greece this year.’


He added: ‘Greek bars and restaurants understand the situation so they have reduced prices and are good value – you can still enjoy a full meal with wine for 15 euros.’


Travel to Italy, Portugal and Turkey is all understood to be doing well, with Spain the most popular destination.


Visits abroad by British residents grew by one per cent over the 12 months to May 2013 and holiday spending increased by five per cent in the first five months of the year, the Office for National Statistics said last month.

INTERVIEW: Why airliner fires won’t upset TUI Travel boss’s holiday plans

By Sarah Bridge

PUBLISHED: 22:09, 10 August 2013 | UPDATED: 11:32, 11 August 2013


Peter Long, 61, wants a Dreamliner on his trip to Majorca

Millions of families across Europe will stay in a villa or hotel booked through British holiday group TUI Travel this summer, but the company’s £1.6 million-a-year chief executive will not be one of them.


Peter Long’s family will be at his private holiday home in Majorca. It’s clearly not a small place either – Long will be with wife Lin, their three sons and four grandchildren.


Long, 61, says: ‘I love going there with my family. That’s when I switch off. When I’m with my grandkids I can forget about everything else.’


In fact it has been a year to remember for TUI. Last week the group, which owns Thomson, First Choice, Sunsail and many other holiday brands, said its profits in the three months to June were up by £13 million to £87 million.


Summer holiday sales are up 11 per cent on last year and Long is predicting profits will increase by about 10 per cent for the year.


Some had predicted the good weather in Britain combined with the squeeze on families’ finances might have hit bookings. But Long argues that the summer holiday is no longer the first thing people cut to save money.


‘The market has been very resilient. People are seeing holidays as a “must” so it’s right at the top of discretionary spend,’ he says.


While Long may not be staying at a TUI hotel this summer, he will be using his own company to travel to Majorca and is hoping the family flight will be on one of Thomson Airways’ new Dreamliner super-jumbos.


TUI has been one of the early adopters of Boeing’s new flagship aircraft and Long is a huge fan. But his nerves will have been tested by the technical glitches including battery fires that have beset the plane since its launch in 2011.

Last month a Thomson Dreamliner flying to America turned back to Manchester after suffering technical problems.


Long says: ‘Yes it’s had a few teething problems, but Boeing are a global business, they’ll fix it and they are fixing it. So, fingers crossed there won’t be any more minor technical disruptions and we can just get on with enjoying it. We bought these some time ago so it gives us real competitive advantage. It’ll be fantastic if it coincides with our next trip to Majorca.’


Long firmly believes that holidays are an extremely important part of people’s lives, including his own.



TUI Travel owns Thomson, First Choice, Sunsail and many other holiday brands

‘I remember earlier this year watching my son teaching my eldest grandchild, who’s five and a half, how to ski and it was great,’ he says. ‘It was in Austria in the same place that my son learned to ski, and here he was, skiing with his own daughter. It was a great experience.’

Long says his company has a huge responsibility to its customers. ‘We are delivering the annual holiday – it’s a big event. People want to have a great time, and therefore we have to make sure they have a great time, and if there are any problems to resolve them very quickly.’


And customer service is of rising importance as much of the growth is in all-inclusive breaks. Once seen as appealing only to lager-fuelled youngsters in search of a free alcohol, the all-in holiday is more popular than ever and is appealing to a more upmarket set.





Long says: ‘There is a resurgence in all-inclusive. You can get on the plane, have no money at all, take your credit card as back-up, and you’re all set for the holiday.’


But still a handy way to have a few drinks on the cheap? Long smiles: ‘It’s not as if everyone goes out and gets blind drunk all the time. People probably drink a little too much on the first couple of days and then it all slows down, because you can’t drink like that all the time.’

With a myriad of different brands, such as Exodus for more independent travellers and Sunsail and Moorings for the sailing fans, TUI offers its 30 million customers anything from beach holidays to cruising the Greek islands or exploring the Antarctic. While the UK and Nordic markets are growing strongly, Germany and France both fell in the latest figures. TUI is also dipping its toe into emerging markets such as Russia and China, with India and Brazil on the cards, too.


TUI might be the biggest holiday company in Europe but its immediate rival, Thomas Cook, is working its way back from recent financial troubles.


Long says: ‘There’s been a lot written about our major competitor. They’re clearly on a journey of rehabilitation and I have to say, so far, well done, in terms of the reshaping the business. That can only be healthy for the industry to have strong competitors.’


Preparing the results announcement has kept Long busy in recent weeks. So much so that when we spoke he had yet to meet the latest addition to the family. He will meet his two-week-old granddaughter for the first time today.


But she is already booked to join the family in Majorca in October.

Citigroup Neutral 377.50 376.80 340.00 372.00 Reiterates

Bank of America Merrill Lynch Buy 377.50 376.80 - 455.00 Retains

Tui Travel (LSE: TT.L - news)

Tui Travel has come a long way in the past two years, with its share price flying nearly 144%. Its Q3 results, published in August, showed an 18% rise in underlying operating profits due to strong demand across key markets. Yet the market was underwhelmed, and the share price has gone nowhere lately. I feel the market reaction was harsh, but Tui (Xetra: TUAG00 - news) has lost its blistering momentum for now. But with forecast EPS growth of 12% to 30 September 2013 and 10% the year after, I'm still tempted to hop on board.




http://uk.finance.yahoo.com/news/buy-shares-intu-properties-plc-144104607.html

TUI Travel airlines hit carbon reduction target two years early and increase it by 50%






19 Aug 2013




TUI Travel is serious about green leadership

London, 19 August 2013 – TUI Travel’s airlines have achieved their carbon reduction target of 6% two years early. This reduction was achieved through a mixture of operational efficiencies, fuel conservation activities, capacity amendments and airline enhancements. The Group has now raised the target to a 9% relative carbon reduction within the original time scale (2008 – 2014) giving itself only two years to save an additional 3%. This progress is unique in the aviation industry.

TUI Travel PLC, the global leader in the leisure travel market, today launched its latest Sustainable Holidays Report. Following on from the launch of last year’s Sustainable Holidays Plan, this report tracks TUI Travel’s progress in the first year of its ambitious three year Plan. TUI Travel created the Plan to drive sustainability best practice across its global brands, having been a strong advocate for sustainable tourism for more than a decade.

In the report TUI Travel proves that green business is good business after saving £16M* during the 2012 financial year through environmental efficiencies. Data released today shows that the leading leisure travel group’s airlines are some of the best in Europe in terms of fuel and carbon efficiency. During 2013 the Group has made significant investments in cutting edge aviation technology such as:
•
Receiving its Boeing 787 Dreamliner aircraft, which is forecast to emit 20% less CO2 per passenger than comparable aircraft today

•
The commitment to purchasing 60 Boeing 737 MAX aircraft, with improved fuel-efficiency (2018 delivery)

•
Investment in the new innovative Split Scimitar Winglets, reducing fuel burn by an additional 2%


The Sustainable Holidays Plan comprises 20 challenging and measurable commitments, underpinning four over-arching and stretching goals. These are to operate Europe’s most fuel-efficient airlines and reduce carbon on the ground by 20,000 tonnes; to take 10 million customers on ‘greener and fairer’ holidays; and to be considered a leader in sustainable holidays by colleagues and customers.

Peter Long, Chief Executive of TUI Travel PLC outlines, “As a market leader, it is incumbent on us to pioneer sustainability change in the travel sector. Our objective is to deliver special travel experiences designed for our customers’ ever changing needs. Customers trust us to live up to our sustainability vision of minimising environmental impact, respecting culture and people, and bringing economic benefit to communities. In doing so, we improve the quality of their holidays, and help preserve the destinations we all love to visit.”

Highlights of the report include:
•
Proving green business is good business, TUI Travel reports £16M* saved through environmental efficiencies in the 2012 financial year

•
TUI Travel airlines have achieved their 6% relative carbon efficiency target two years early and have increased the target by 50% to 9% by 2015 (baseline 2008)

•
They are committed to becoming Europe’s most fuel-efficient airline, in 2012 89% of TUI Travel’s aircraft were fitted with fuel-saving winglets

•
73g of CO2 emissions per revenue passenger kilometre (RPK) across TUI Travel airlines – making its airlines some of the most fuel-efficient in Europe e.g. TUIfly being awarded most climate-efficient charter airline worldwide by atmosfair (see page 29 of the report)

•
Over 2m customers staying in hotels with sustainability certifications, an increase of 800,000 in the last year

•
TUI Travel featured over 850 hotels which have sustainability certifications in brochures and on websites

•
Since the launch of its Plan, the Group has organised more than 20 sustainability supplier workshops attended by 600 hoteliers and other stakeholders, proving how committed it is to sharing the importance of sustainability

•
TUI Travel businesses helped contribute over €5m to charities and environmental projects


Jane Ashton, Director of Group Sustainable Development at TUI Travel explains, “Travel and tourism accounts for 9% of the world’s GDP and 6% of its exports**. Tourism also accounts for 1 in 11 jobs globally** and is the main source of foreign exchange in one-third of developing countries***. The leisure travel industry can have both positive and negative impacts on communities and the natural environment – the challenge is how to manage these impacts for the greater good.

In this report we outline TUI Travel’s first year of progress against the 2012-14 Sustainable Holidays Plan. Many of our targets are on track, but some are proving challenging, and in those instances we will re-double our efforts to make further progress by 2015.

Meanwhile the global sustainability challenges remain as pressing as ever – for example, the impacts of eco-system degradation and climate change on the environment and communities in our holiday destinations, and on the holiday experience.”

04 Sep 13 TUI Travel PLC [TT.] (3.75 p)

TUI Travel: JP Morgan upgrades to overweight with a target price of 410p.

A buy in IC this week

Should I Buy These Shares? Tui Travel plc, GKN plc, CRH plc, Melrose Industries plc and John Wood Group plc


Tui Travel (LSE: TT.L - news)

Tui Travel was flying last time I looked at it in late May, soaring 120% in the previous 12 months. I suggested that Tui (LSE: 0NLA.L - news) could have further to travel, and the sun shone on its Q3 results, with strong demand across key markets, growing appetite for its "unique" holidays, and an 18% rise in underlying operating profits to £87 million. Management is on target to achieve its full underlying operating profit growth of at least 10% this year. Travel should recover strongly if the economy keeps growing, and with forecast earnings per share (EPS) growth of 12% to September and 9% the year after, Tui could be worth a trip.


http://uk.finance.yahoo.com/news/buy-shares-tui-travel-plc-101342068.html

-----------------------------------------------------------------------------------------------

Trading statement Thurs 26 Sept

MARKET REPORT: Travel companies Thomas Cook and TUI Travel expected to report brisk business in trading updates


http://www.dailymail.co.uk/money/markets/article-2427039/Thomas-Cook-TUI-Travel-expected-report-brisk-business.html

Thursday's agenda: Travel firms go head to head
By John Harrington
September 25 2013, 6:30pm
Thursday's agenda: Travel firms go head to head


Travel firms will be under the spotlight Thursday as 'back-from-the-brink' Thomas Cook (LON:TCG) will be releasing a trading statement, as will be sector peer TUI travel (LON:TT.).

Recently, broker Panmure Gordon pointed out that TUI is trading at a premium to its favoured stock, which is actually Thomas Cook, yet TUI holds less earnings growth potential.

“Whilst we believe TUI travel is a strong operator with good long-term growth potential, in our view Thomas Cook offers more substantial upside from the improvement in underlying like-for-like trading, in addition to potential increases to cost savings targets and future dividend payments," the broker said.

Meanwhile, Peel Hunt said of Thomas Cook: "The turnaround thus far has been dramatic, but we believe that there is more to come.

"From here comparatives will become more challenging and the easy wins have been made. However, margin targets seem reasonable and the quality and quantum of earnings should mean further share price outperformance."

Pre-Close Trading Update


Highlights


Robust Modern Mainstream model driving further positive momentum

- Full year underlying operating profit growth guidance increased - now confident of achieving at least 11% growth on a constant currency basis.


- Strong high-season Summer 2013 trading in the UK and Nordics with revenues up 8% and 10% respectively.


- For Winter 2013/14, we have sold approximately 31% of the overall Mainstream programme. Average selling prices across all key source markets are up year-on-year.


- The Winter 2013/14 Egypt programme is being reduced significantly and capacity is being increased to other destinations.


http://www.moneyam.com/action/news/showArticle?id=4675468

TUI Travel trumps Thomas Cook in travel showdown
By Jamie Nimmo September 26 2013, 9:03am Thomas Cook slumped after warning about slow bookings, while TUI lifted its full-year profit outlookThomas Cook slumped after warning about slow bookings, while TUI lifted its full-year profit outlook

TUI Travel (LON:TT.) emerged victorious in the battle with Thomas Cook (LON:TCG) as Britain’s top tour operators went head-to-head.

The company behind First Choice and Thomson, which has Germany’s TUI AG as a major shaeholder, lifted its profit outlook just seven weeks after outlining its expectations to the market.

TUI now anticipates full-year underlying operating profit growth of at least 11%, having suggested a 10% rise in July’s third quarter results.

The company hailed a strong summer of bookings, with sales up 8% in the UK.

Chief executive Peter Long said: “We are very pleased with our trading during the summer 2013 high season, with most of our programmes now almost fully sold.

“Our strong performance in the market continues to be driven by increased customer demand for unique holidays and higher levels of direct distribution.”

TUI has already sold 31% of its winter holidays, while the average selling price is rising across all key markets, it added.

The company is cutting down its holidays in Egypt as a result of this year’s conflicts.

“As soon as the unrest in Egypt started we actively began to remix the programme into alternative destinations,” the company said.

The shares rose 1.6% to 362.5p.

It was a different story at Thomas Cook Group (LON:TCG), which slumped 6.7% to 145p after warning that bookings have slowed in recent weeks.

As for winter trading, the company said it is at an early stage in the booking cycle, with trading starting more slowly than last year due to protests in places such as Egypt and Turkey.

“However, we continue to pursue an active capacity management strategy, matching committed capacity to demand,” Thomas Cook said.

TUI Travel raises full-year profit guidance as profits fly

Thu, 26 September 2013


Article viewed 156 times




A strong high season this summer and heartening early bookings for winter holidays has led tour operator TUI Travel to hike its profit guidance for the full year.

The FTSE 100 company, which owns the Thomson and First Choice brands, said it was now confident of achieving at least 11% growth in underlying operating profits for the year to end-September.

In a pre-close trading update ahead of its preliminary results announcement on December 10th, TUI said its mainstream travel business had seen plenty of eager holidaymakers in the UK and Nordics lifting revenues 8% and 10%.

Sales and customers were down with its France tour operators, with Germany experiencing flat sales, while the online accommodation business was up strongly.

With most of its summer programmes were now almost fully sold, Chief Executive Peter Long said the strong performance was driven by increased customer demand for “unique” holidays and higher levels of direct distribution.

As well as upping guidance he added that TUI was well positioned to continue to deliver on its five-year growth roadmap.

Management pointed to the flexibility and resilience of a business model that enabled the company to more effectively absorb the impacts of geopolitical events, including the current turbulent political situations in Egypt and Syria.

The coming winter's mainstream programme had already been 31% sold even with higher average selling prices, with the Egypt programme reduced significantly and capacity increased to other destinations.

Management noted that demand for unique holidays during the forthcoming winter programme was strong, which highlighted “the importance of not being a commodity-led business, especially given the uncertain environment in which we operate”.

Further forward, summer 2014 UK bookings were said to be broadly in line with the same period last year, though with average selling prices up by 6% and 12% of the programme sold so far.

26 Sep Shore Capital N/A Buy
26 Sep Numis 400.00 Add

Should I Invest In TUI Travel Plc?

http://uk.finance.yahoo.com/news/invest-tui-travel-plc-144116768.html

TUI Travel: Alphavalue raises target price from 392.5p to 417.1p and upgrades from reduce to add.

TUI Travel: Investec reduces target price from 400p to 350p and downgrades from hold to sell

Broker snap: Numis sees 'increasingly positive' outlook at TUI Travel

Thu, 05 December 2013


Numis Securities has recommended investors to 'add' to positions in TUI Travel ahead of the tour operator's full-year results next week, saying that the outlook for next summer is 'increasingly positive'.

The broker expects TUI Travel to report an 18% increase in earnings before interest and tax (EBIT) for the 12 months to September to £580m, and a 15% rise in earnings per share to 29.6p. The full-year dividend is expected to rise from 11.7p to 12.9p.

As for the current winter season, the pre-close trading update highlighted that trading excluding Egypt was "looking pretty solid", Numis said.

"Negative mix was impacting Germany, but the UK and Nordics were strong. However, comps are tough, given the post-Olympics bounce in FY12, and Egypt is an important winter market and is likely to have been a continuing drag," the broker said.

TUI Travel set out its 'Roadmap for growth' at its annual results last year in which it targeted an underlying earnings compound annual growth rate (CAGR) of 7-10% over the following five years.

Numis went on to explain that: "We expect that these targets will be reinforced with next week's prelims. In the UK, given improving consumer confidence, rising house prices, economic growth and increasing employment, we believe that the trading outlook for Summer 14 is increasingly positive.

"Thomas Cook, as it has recovered from its financial crisis, has been the stellar performer in the Tour Operator segment. TUI Travel, in the meantime, has continued to make encouraging strategic progress and we believe that its superior business model leaves it well placed for further strong progress."

The stock was 2.28% higher at 376.7p by 11:30 on Thursday.

Tui announces full year figures on Tuesday 10 Dec

A buy in IC - saw its shares sink recently after Norwegian shipping tycoon John Fredriksen dumped his 5.4% stake in the tour operator at 366p a share. He used the money to bolster his stake in Tui's German parent TUI AG in order to strengthen his hand in future talks, about a possible merger of the two. Of course there has been some short term damage, but the business is operationally sound. Tui predicts full year underlying operating profit ''at least'' 10% higher.

---------------------------------------------------------------------------------------------

6 Dec Deutsche Bank 355.00 Hold

Results from Europe’s largest travel firm, TUI travel, are likely to be viewed in the context of the renaissance of long-time rival, Thomas Cook.

Expectations are high and attention will be on early booking levels for the summer season, while broker Charles Stanley will be interested to see whether the ‘online accommodation’ is beginning to convert sales growth into profit growth.

The market is expecting profit before tax of £434mln on revenue of £15bn.

http://www.proactiveinvestors.co.uk/companies/market_reports/63978/week-ahead-tui-travel-ashtead-supergroup--63978.html

Prelim results for the year ended 30 Sept 2013

ANOTHER RECORD YEAR WITH UNDERLYING OPERATING PROFIT GROWTH OF 20%

· Record underlying operating profit delivered; 2013 growth roadmap target exceeded
· Mainstream growth driven by unique holidays, direct distribution and scale
· Leveraging our global leadership position in Accommodation Wholesaler
· Delivering increased shareholder value
· Robust current trading


Highlights

· Record underlying operating profit delivered; 2013 growth roadmap target exceeded
- Underlying operating profit of £589m (2012: £490m), an increase of 20% over the prior year. Underlying operating profit increase of 13% to £555m on a constant currency* basis.
- Record Mainstream underlying operating profits of £514m (2012: £420m)
- Underlying UK operating profit growth of 27% to £251m (2012: £197m) with an operating margin increase of 110bp to 6.5%.
- Underlying German operating profit growth of 30% to £113m (2012: £87m) with operating margin up 50bp to 2.7%.
- Business improvement programme delivered higher than expected £46m of additional profit in the year.
- Strong underlying earnings per share growth of 19% to 30.8p (2012: 25.8p).
- Statutory operating profit of £297m (2012: £301m), with the reduction driven by a goodwill impairment of £188m relating to our Specialist & Activity business and French tour operator.

· Mainstream growth driven by unique holidays, direct distribution and One Mainstream

- Sales of higher-margin unique holidays now 69% of Mainstream holidays. Directly distributed holidays are 66% of Mainstream holidays, with online sales at 35%.
- Record levels of customer satisfaction, up two percentage points to 79% across our key markets.
- Our investment in the digital customer service proposition and our online platform is delivering clear benefits to our customers.

. Leveraging our global leadership position in Accommodation Wholesaler

- Accommodation Wholesaler continues to consolidate its global leadership position; TTV growth of 23% to £1,655m driven by a strong performance in Asia and Latin America.

· Delivering increased shareholder value

- Record cash flow generation, with free cash flow of £427m, an improvement of £122m. The net cash position of £2m** (2012: net debt of £142m)** provides further balance sheet strength.
- Cash conversion improved by 12 percentage points to 90%, underlying ROIC improved by 2.6 percentage points to 14.8%.
- Final dividend increase of 17% to 9.75p per share (2012: 8.3p), resulting in a full year dividend increase of 15% to 13.5p per share (2012: 11.7p).

· Robust current trading
- Overall, Winter 2013/14 trading is in line with our expectations, with 60% of the programme sold.

- Pleased with Summer 2014 trading, despite strong comparatives from the prior year.
- We remain confident of delivering this year, in line with our target to deliver 7% to 10% underlying operating profit growth at constant currency over our five-year growth roadmap.

* Constant currency basis calculated by translating the 2013 results at 2012 exchange rates

** Excludes restricted cash

Investor and Analyst Webcast

A presentation for analysts and investors will be held today at 9.15am (GMT) at Google, 1-13 St Giles High Street, London WC2H 8AG. The presentation will also be webcast. For details of the webcast please visit www.tuitravelplc.com.

looks like a batch of cracking figures ..... may be some "sell on the results" stuff early into trading, but certainly worth looking at (again) ..... a knock-on to TCG would not be an unreasonable expectation either

I was rather hoping it will drag TCG along with it today, time yet.

Numis Add 381.30 384.00 400.00 425.00 Reiterates

Barclays Capital Overweight 381.30 384.00 445.00 445.00 Reiterates

Investec Sell 381.30 384.00 350.00 350.00 Retains

TUI Travel packages up record profits

By Jamie Nimmo

December 10 2013, 10:44am
TUI Travel packages up record profits

Strong demand for package holidays helped TUI travel (LON:TT.) report record figures for 2013, including a 21% rise in profits.

Europe’s biggest tour operator’s pre-tax profits for the 12 months to September 30 were £473mln from £390mln the year before on revenues of £15bn, up 4% from £14.5bn.

Around a quarter of revenues were generated through sun seekers booking package holidays online, with 12% growth in online package bookings.

Package holidays are seeing a particular renaissance in the UK. This year, underlying UK operating profits grew 27% to £251mln, while German profit growth was just as strong at 30% (£113mln).

The company said the winter performance is in line with expectations, with 60% of the overall programme sold. To counter social unrest in Egypt, TUI opted to shake up its winter offering and is offering fewer trips to the North African country than before.

Chief executive Peter Long said: “The year has been outstanding and highlights that our strategy of delivering unique holidays sold directly to our customers is the right one.

“We have once again reported record underlying profits across the business, significantly exceeding the top end of our growth roadmap target of 10%. This follows strong margins across the peak summer period, particularly in the UK and accelerated business improvement delivery.”

Investec repeated its ‘sell’ recommendation and 350p target price on the shares despite the slightly better than expected numbers.

It worries the group will struggle to meet guidance in the second half of 2014 after a tough winter.

TUI Travel shares dipped 0.5% to 382.1p each.

Broker snap: Investec cautious about TUI Travel guidance

Tue, 10 December 2013

Shares in TUI Travel dropped on Tuesday despite the leisure travel firm beating expectations with its annual results, with Investec reiterating it ‘sell’ rating after raising concerns about the upcoming winter season.

The company reported an underlying operating profit of £589m for the year to September 30th, up 13% year-on-year at constant currency and ahead of Investec’s £582m forecast.

The company also maintained its five-year guidance for annualised operating profit growth of 7-10% at constant currency.

“TUI’s results are slightly ahead of expectations and we welcome the flat summer 2014 current capacity plans,” said analyst James Hollins.

“However, one key takeaway is guidance of unchanged H1 2014E winter losses (the reported number is forecast to see higher losses due to the timing of Easter), placing pressure on H2 trading (tough comps) to meet the guided 7-10% year-on-year [operating profit] increase.”

He said that meeting this forecast is “not a stretch, but also not a guarantee”.

Investec currently expects TUI Travel to report an operating profit of £618m for the year to September 2014.

“This is +5% year-on-year against the reported FY13A figure, although our projection includes an element of negative currency translation and we are happy to remain at this level despite being below the 7-10% guidance range.”

TUI Travel: Deutsche Bank shifts target price from 355p to 360p retaining its hold recommendation.

A buy in this weeks IC - Tui Travel beats forecasts again.

Cost savings came through quicker than expected at TUI Travel (TT.) this year - about £46m in all - and, even without a £34m currency tailwind, underlying operating profit grew 13% in the year to £555 million. That comfortably beat both management's own target of 7-10% growth and upgraded expectations of ''at least '' 11% growth.

The shares have further to travel given a modest forward PE ratio of around 11 times and a proven ability to beat targets.

TUI Travel PLC (TT.:LSE) set a new 52-week high during today's trading session when it reached 413.10. Over this period, the share price is up 43.59%

TUI Travel (LSE: TT.L - news)

The leisure business is returning to health, and TUI Travel has benefited nicely with a 45.9p (12.5%) rise to 413.1p during the month. It's fallen back a little to 407p so far today.

Record (LSE: REC.L - news) results for the year to 30 September, released on 10 December, helped. The firm, which owns the Thomson and First Choice brands, reported a 20% jump in operating profit to £589m with earnings per share up 19% to 30.8p. The dividend was lifted by 15% to 13.5p per share, for a 3.7% yield.

Over the year the shares are up more than 40%, yet they're still on a forward P/E based on 2014 forecasts of a fairly modest 13.

TUI Travel raises profit guidance

By Ian Lyall

February 06 2014, 8:00am
Headed for the sun: TUI says January bookings were strong.



The restructuring of the operations in France and careful capacity management have allowed TUI travel (LON:TT.) to narrow its traditional first quarter loss.

For the year as a whole it is predicting operating profits will grow by between seven and 10% as it recorded a strong performance in the key January booking period.

Chief executive Peter Long said: "We are very pleased with our current position having reduced the operating loss in the first quarter against a strong prior year performance.

“We have delivered further efficiency savings in France and an improved result in specialist and activity.

“Our digital transformation continues to gather pace, with a very successful online performance across mainstream throughout the key January booking period.

“We also continue to see strong growth in our accommodation wholesaler business.

“Our strategy is delivering sustainable growth, with a robust business model focused on growing unique holidays and online distribution.”

The loss for the period to December 31 was £108mln, down £8mln on the same period a year earlier.

1st Quarter Results

RNS


RNS Number : 4062Z

TUI Travel PLC

06 February 2014








6 February 2014

TUI Travel PLC

("TUI Travel")



First Quarter Results ended 31 December 2013 and Interim Management Statement




·

Q1 underlying operating loss reduced by £8m to £108m1


·

Robust current trading with a strong performance in the key January booking period


·

Demand for our unique holidays continues to grow


·

Strong growth in online bookings


·

Confident of delivering full year underlying operating profit growth of between 7% to 10%2




Peter Long, Chief Executive of TUI Travel PLC, commented:



"We are very pleased with our current position having reduced the operating loss in the first quarter against a strong prior year performance. We have delivered further efficiency savings in France and an improved result in Specialist & Activity. Our digital transformation continues to gather pace, with a very successful online performance across Mainstream throughout the key January booking period. We also continue to see strong growth in our Accommodation Wholesaler business. Our strategy is delivering sustainable growth, with a robust business model focused on growing unique holidays and online distribution. Overall, trading remains in line with our expectations and we are confident of delivering 7% to 10% growth in underlying operating profit during the year2."



Highlights




·

Q1 Results





- Underlying operating loss reduced by £8m to £108m (Q1 2013: loss of £116m) against a strong prior year performance.







- France restructuring and capacity management helping to drive a reduction in operating loss.







- Strong trading in Accommodation Wholesaler continues, while Specialist & Activity has delivered an improved performance.




·

Robust current trading - strong performance in key January booking period





- Winter 2013/14 is closing out in line with our expectations - 85% of the programme sold, with higher average selling prices in most source markets.







- Pleased with Summer 2014 trading, in particular our performance in the key January booking period, with higher average selling prices and Mainstream volumes up by 1% against tough comparatives.







- Excellent online performance with Mainstream Summer 2014 online bookings up by 8%.







- Continued growth in sales of unique holidays which account for 74% of Mainstream Summer 2014 bookings, up two percentage points on prior year.




·

Accommodation Wholesaler growth





- Continues to build on its global leadership position.







- TTV up by 45% in early Summer 2014 trading.




·

Growth roadmap





- In the second year of our five-year growth roadmap our strategy continues to deliver and we remain confident of achieving our growth targets.

7 Feb Exane BNP... 400.00 Neutral
7 Feb Deutsche Bank 395.00 Hold

TUI Travel: Barclays ups target price from 445p to 500p reiterating an overweight rating.

Trading Statement
26 Mar 14 TUI Travel PLC [TT.]

Holiday firms TUI travel and Thomas Cook, as usual, issue trading updates in the same week, making comparisons very easy.

UBS expects TUI travel to confirm guidance for the first half of the year (H1) in its trading update, and to maintain its target for 7-10% earnings before interest and tax (EBIT) growth for the full year.

“We expect the EBIT loss for H1 to be slightly smaller than for the same period last year, benefitting from the timing of Easter,” the Swiss bank said. As for Thomas Cook, UBS expects trading to be broadly in line with the interim management statement released on 11th February, with summer bookings developing on a par with expectations.

“We will likely hear more on the progress of the cost saving programme,” UBS suggests



http://www.proactiveinvestors.co.uk/companies/market_reports/66919/week-ahead-wolseleys-growth-to-be-hampered-by-fx-headwinds-0000.html

Trading Statement

Highlights


Robust Modern Mainstream model

- Winter 2013/14 trading closing out as expected, with higher average selling prices across most of our key source markets.


- Summer 2014 bookings are flat against tough comparatives, with strong pricing and approximately 45% of the programme sold.


- Pleased with trading, particularly in the UK and Germany.


- France on track to reduce operating losses through restructuring and
capacity management.

Unique holidays driving demand


- Rising demand for unique holidays continues and now accounts for 72% of
Mainstream Summer 2014 bookings, up two percentage points on prior year.




- Strong online performance with Mainstream Summer 2014 online bookings up by
8%.

Accommodation Wholesaler growt


- Accommodation Wholesaler continues to build a global leadership position with TTV up by 33% for Summer 2014.




http://www.moneyam.com/action/news/showArticle?id=4779446

Tui Travel and Thomas Cook report interims on 13 May and 15 May. In Shares - rising consumer confidence should give Thomas Cook and TUI a boost.

Interim Results

Interim Results for the six months ended 31 March 2014

STRONG H1 PERFORMANCE

· Continued momentum in unique holidays, booked increasingly online
· Flexible, resilient business model ensures that we continue to deliver profitable growth
· Pleased with Summer 2014 trading overall
· Remain confident of delivering full year underlying operating profit growth of between 7% to 10% on a constant currency basis1,2

TUI Travel: Panmure Gordon ups target price from 475p to 500p keeping a buy recommendation.

Another victory for air passengers: Court ruling on flight delay compensation loophole could cost Thomson and Jet2 millions

Thomson told it must pay out for flight delay claims over two years old
It warns it could mean fare rises, a claim rubbished by aviation lawyers
BA, Virgin and easyJet all allow claims to date back six years
Package holiday firm confirms it intends to appeal the decision

http://www.dailymail.co.uk/money/holidays/article-2662315/Victory-passengers-ruling-flight-delay-loophole.html

Passengers still face a wait for flight delay compensation from Thomson despite court ruling boost


By Adam Uren

Published: 13:40, 20 June 2014 | Updated: 13:40, 20 June 2014

Passengers wrongly denied compensation by Thomson for lengthy flight delays will not have their cases reviewed yet as the airline intends to appeal a landmark court decision made yesterday.

Thousands of compensation claims have been put on hold by the package holiday provider while it took to the Court of Appeal to fight a county court ruling it lost last year.

Yesterday judges ruled that Thomson cannot impose a two-year time limit on compensation claims, and instead passengers should have six years from the date of their delayed flight to claim, as per UK statute of limitations rules - and five years in Scotland.




Ruling: The Court of Appeal rejected Thomson's attempt to continue imposing a two-year limit on flight delays.

Ruling: The Court of Appeal rejected Thomson's attempt to continue imposing a two-year limit on flight delays.



But the airline has said that for now it will still only process claims for delays that happened within the last two years, as it plans on making an appeal bid through the Supreme Court.

It will mean another frustrating wait for passengers, some of whom have been waiting for almost a year for the court's decision, as well as the many who were rejected for compensation years ago by the airline.




More...
Another victory for air passengers: Court ruling on flight delay compensation loophole could cost Thomson and Jet2 millions
Revealed: Legal 'loophole' airlines use to refuse flight delay compensation that won't stand up in court
Find the best travel insurance deal


A Thomson spokeswoman said that the ruling won't mean any changes to its compensation policy - for now at least.

She said: 'We are disappointed with the judgement and intend to appeal, therefore we will continue to process claims as we are currently.'


Flight delay lawyers Bott & Co said the court decision would see Thomson and Jet2 - which has also used the two-year limit - pay out millions to customers who had been rejected because they waited too long to make their claim under European Commission rule 261/2004.

Regulation 261 gives passengers delayed more than three hours the right to up top €600 compensation, provided the delay wasn't caused by extraordinary circumstances such as extreme weather, civil unrest, or industrial action.

Thomson and Jet2 argued that international aviation law under the Montreal Convention states that claims for compensation must be brought within two years.

But European Commission law states that the time limit depends on the laws of each member state, which in the UK is the six-year statute of limitations.

Bott & Co represented James Dawson in the case, who was delayed by eight hours on his Christmas Day flight from Gatwick Airport to the Dominican Republic in 2006 because there wasn't enough staff to man the flight.

The firm said that anyone who has been delayed on a flight should submit their claims as soon as possible after their return if they think they have a case for compensation.

Statement Regarding Proposed Merger

RNS


RNS Number : 7775K

TUI Travel PLC

27 June 2014








NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION



THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE OR AS TO THE TERMS OF ANY OFFER



27 June 2014



For Immediate Release





TUI Travel plc ("TUI Travel") and TUI AG



Statement regarding proposed merger of TUI Travel and TUI AG



The Independent Directors of TUI Travel and the Executive Board (Vorstand) of TUI AG are pleased to announce that they have reached an agreement in principle on the key terms of a possible all-share nil-premium merger of TUI Travel and TUI AG (the "Merger"). The Merger, if consummated, is anticipated to deliver a number of strategic and financial benefits for both the TUI Travel shareholders and TUI AG shareholders.



Strategic Highlights




*

Creation of the world's number one integrated leisure tourism business






*

Continuation of existing strong leadership






*

Significant synergies through combining the two businesses









-

Potential cost savings of at least EUR 45 million (GBP 36 million) per annum, in addition to certain cash tax benefits









-

Top line growth expected to be enhanced by broadening the portfolio of unique holiday experiences, increased occupancy levels in existing hotels, the future expansion of TUI AG's core hotel and cruise activities and integrated yield management






*

Simplification of the current group structure to unlock further value within the businesses of the combined TUI AG and TUI Travel group (the "Group")






*

Acceleration in the growth of the Core Mainstream Tourism Business









-

An enhanced growth profile from a broadened content portfolio and increased investment in digital platforms to drive accelerated growth in customer numbers






*

Non-core businesses will be run separately and maximised for value









-

The current Online Accommodation businesses and Specialist and Activity sector of TUI Travel will operate separately from the core tourism business and opportunities to maximise their value for the Group will be actively pursued









-

Hapag-Lloyd stake to be held for disposal




Key Terms




*

Under the terms discussed between the parties, TUI Travel shareholders (other than TUI AG and certain connected parties) would receive 0.399 new TUI AG shares for each TUI Travel share that they own






*

German domiciled Group with a premium listing on the London Stock Exchange with an intention to seek inclusion in the FTSE UK Index Series (including FTSE 100), in parallel to a quotation on a German stock exchange






*

Intention to adhere to both the UK Corporate Governance Code and the German Corporate Governance Code to the extent practicable. The Group is expected to be subject to the shared jurisdiction of the UK Takeover Code and applicable German takeover law






*

TUI AG and TUI Travel expect that any dividends paid for the 2013/2014 financial year would ensure equivalent payment to TUI AG and TUI Travel shareholders, taking into account the exchange ratio and would be in line with the current TUI Travel dividend policy






*

The Group intends to review its future dividend policy following completion of the Merger and in light of its expected profits and free cash flow generation, targeting a level which is in line with TUI Travel's current dividend policy




Mr. Alexey Mordashov, the largest shareholder in TUI AG, has indicated his support for the Merger.



Discussions remain ongoing and there can be no certainty that an offer will be made or as to the terms of any offer.

Shares - Don't travel with Tui. The logic of combining the businesses is not good and investors would be best shot of TUI Travel in the market.

Market Buzz

Friday preview: TUI Travel merger talks to be in focus at Q3 results

Thu, 07 August 2014


Article viewed 29 times






Share on Facebook




TUI Travel reports its third quarter results amid talks of a merger with its majority owner TUI AG.

In July the UK's Takeover Panel granted an extension to TUI Travel, Europe's biggest tour operator, to confirm the merger.

The companies now have until 19 September from an earlier deadline of 25 July.
If the deal goes through, it would create the world's largest leisure tourism group.

"We believe that shareholders should be unenthusiastic about the proposed merger," Numis Securities said.

The broker said promised cost savings of £36m are just 6% of TUI Travel's full year 2014 earnings before interest and tax (EBIT).

Numis also questioned the strategic logic for shareholders and said it believes that the "quality of their investment would be diluted".

It added that the company's third quarter results may have come under pressure from weak bookings in the UK and Germany, the impact of a stronger sterling and heightened geopolitical tensions.

However, the reported EBIT is expected to rise to £110m from last year's £87m as a result of the shifting of Easter into third quarter.

3rd Quarter Results

RNS


RNS Number : 5969O

TUI Travel PLC

08 August 2014








8 August 2014

TUI Travel PLC

("TUI Travel")



Third Quarter Results ended 30 June 2014 and Interim Management Statement



DELIVERING GROWTH AND OUT-PERFORMING THE MARKET




·

Strong Q3 result with underlying operating profit up 21% to £92m on a like-for-like basis1


·

Remain pleased with progress in Summer trading - higher average selling prices across Mainstream


·

Delivering against our growth levers


·

Flexible and resilient business model means that we are delivering sustainable, profitable growth and out-performing the market




Peter Long, Chief Executive of TUI Travel PLC, commented:



"We are pleased to have delivered another strong performance this quarter across the Group with a 21% increase in underlying operating profit2. Demand for our unique holidays, which now account for over 70% of Summer sales, has continued to grow, as have bookings made online. Our One Mainstream structure, led by Johan Lundgren, continues to yield tangible benefits across a number of areas as we drive the organisation to deliver a performance similar to that achieved by our UK business. We remain pleased with progress in Summer trading, despite strong comparatives, and are achieving higher average selling prices across Mainstream overall.



"As the trading environment in the commodity space has become more competitive and airline capacity continues to increase, our flexible and resilient business model - focused on unique holidays and our relationship with the customer throughout their whole holiday experience - enables us to deliver sustainable, profitable growth and out-perform the market."



Highlights




·

Strong Q3 performance across the Group





- Underlying operating profit increased by £36m to £112m (Q3 2013: £76m). On a like-for-like basis1, underlying operating profit improved by 21% to £92m.



- UK and Germany underlying operating profit up by 17% and 16% respectively (excluding Easter and on a constant currency basis1).




·

Remain pleased with progress in Summer 2014 trading





- Mainstream bookings performance in line with previous trading update, with improvements in the UK and Nordics.







- Pleased with yield performance, with higher average selling prices across Mainstream overall.







- 88% sold to date.




·

Delivering against our growth levers





- Further growth in Mainstream unique holidays and online bookings.







- One Mainstream structure, led by Johan Lundgren, is firmly in place and yielding tangible benefits across multiple areas.







- Strong Q3 performance by Specialist & Activity - underlying operating profit doubled on a like-for-like basis1.







- Accommodation Wholesaler continues to perform very well with Summer 2014 TTV up 16%.

TUI Travel: Numis upgrades from hold to add with a target price of 425p.

Sharecast - FTSE 100 movers: TUI Travels gains on merger reports

Thu, 14 August 2014


TUI Travel advanced following reports its majority owner TUI AG is pressing ahead with plans to merge the two companies.

Germany-based TUI AG, which owns 55% of TUI Travel, said there was "no plan B" in the event of a failure of the proposed merger with the listed UK business.

TUI AG also reported third quarter underlying earnings rose 89% to €163m on a 3% lift in turnover to €11.4bn, resulting in a 28% narrowing in nine-month underlying pre-tax losses before interest and amortisation to €182m.

The company said it expected annual earnings to be "at least at the upper end of guidance" of 6%-12% higher than last year's €762m following strong results at its cruise and hotel divisions and at TUI Travel, which contributes more than 80% of its profits.

Ex dividend Wed 3 Sept - 4.05p

11 Sep Credit Suisse 489.00 Outperform

Recommended All-Share Merger

http://www.moneyam.com/action/news/showArticle?id=4885234

15 Sep Credit Suisse 489.00 Outperform
11 Sep Credit Suisse 489.00 Outperform

18 Sep Morgan Stanley 500.00 Overweight

Technical breakout at TT. TUI Travel.
Break through the downtrend channel MACD positive. Checking fundies now.

2 Oct Numis 425.00 Add
2 Oct Credit Suisse 489.00 Outperform

Pre-close trading update



http://www.moneyam.com/action/news/showArticle?id=4896821

23 Oct Panmure Gordon 503.00 Buy

29 Oct Panmure Gordon 503.00 Buy

Signal Update

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 28/10/2014, 3 days ago, when the stock price was 376.1000. Since then TT.L has risen by +5.98%.

Market Outlook

Candlesticks warned us today to be on alert with a new bearish pattern. Market attention is now on the downside


http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=TT.L

20 Nov Credit Suisse 489.00 Outperform

Thursday 04 Dec 2014 Full Year Preliminary

Updated Expected Timetable of Principal Events

RNS


RNS Number : 5466Y

TUI Travel PLC

02 December 2014






Not for release, publication or distribution, in whole or in part, in or into or from any jurisdiction where to do so would constitute a violation of the relevant laws OR REGULATIONS of such jurisdiction



2 December 2014



RECommended all-Share merger of TUI Travel PLC and TUI AG



Updated Expected Timetable of Principal Events



On 15 September 2014, the Independent Directors of TUI Travel PLC ("TUI Travel") and the Executive Board (Vorstand) of TUI AG announced that they had reached agreement on the terms of a recommended all-share nil-premium merger of TUI Travel and TUI AG (the "Merger"), to be implemented by way of a scheme of arrangement of TUI Travel under Part 26 of the Companies Act 2006 (the "Scheme").

TUI Travel published the scheme document in connection with the Scheme, which included the expected timetable of principal events for implementation of the Scheme, on 2 October 2014 (the "Scheme Document"). Defined terms used but not defined in this announcement have the meanings set out in the Scheme Document.

The Independent Directors of TUI Travel and the Executive Board of TUI AG announce that the Court Hearing to sanction the Scheme and confirm the Reduction of Capital has been convened for 10 December 2014. However, due to requisite technical procedures relating to depositing the global certificate representing the New TUI AG Shares with Clearstream and the crediting of the New TUI AG Shares to the securities deposit account of Capita IRG Trustees Limited, the TUI AG DIs are not now expected to be credited to CREST accounts until 17 December 2014 and therefore admission to listing and trading on the London Stock Exchange of TUI AG Shares is not expected to take place until 8:00 a.m. that morning.

An updated expected timetable of principal events in relation to the Merger is set out below. Any further updates or changes will be notified by TUI Travel through a Regulatory Information Service. All references in this table to times are to London time.


Event

Time/date


Last date for registration of transfers of (and date for disablement in CREST of) TUI Travel Shares

9 December 2014


Scheme Record Time and record time for second interim dividend

6:00 p.m. on 9 December 2014


Last day of dealings in TUI Travel Shares

10 December 2014


Court Hearing to sanction the Scheme and confirm the Reduction of Capital

10 December 2014[1]


Declaration of second interim dividend and irrevocable instruction by TUI Travel for payment of second interim dividend

10 December 2014 (following the Court Hearing)


Suspension of listing of, and dealings in, TUI Travel Shares

By 8:00 a.m. on 11 December 2014


Scheme Effective Time

11 December 2014[2]


Issuance of New TUI AG Shares

12 December 2014[3]


Listing and commencement of dealings on the London Stock Exchange of TUI AG Shares and CREST accounts credited in respect of TUI AG DIs

8:00 a.m. on 17 December 2014


Delisting of TUI Travel Shares

After 17 December 2014


TUI Travel second interim dividend credited to relevant accounts

24 December 2014


Latest date for Scheme to become Effective

30 September 2015[4]

3 Dec Morgan Stanley 500.00 Overweight

Final Results

ANOTHER YEAR OF OUT-PERFORMANCE

· Growth roadmap exceeded for the second year running - 11% increase in underlying operating profit1 on a constant currency basis2
· Mainstream strategy continues to deliver sustainable, profitable growth
· Accommodation Wholesaler roadmap target surpassed - underlying operating profit1 up 21% on a constant currency basis2
· Merger with TUI AG will accelerate long-term growth and future-proof our proven business model
· Pleased with current trading for Winter 2014/15; Strong Summer 2015 UK trading continues

Cheers skinny. :-))

---------------------------------------------------------------------------------------------
4 Dec Numis 425.00 Hold
4 Dec Panmure Gordon 503.00 Buy
3 Dec Morgan Stanley 500.00 Overweight

TUI AG announces "successful" full year following merger with TUI Travel

Wed, 10 December 2014


TUI AG announces 'successful' full year following merger with TUI Travel



Price: 439.40

Chg: -3.80

Chg %: -0.86%

Date: 16:34



FTSE 100 Quote


Price: 6,506.18 Chg: -23.29 Chg %: -0.36% Date: 16:29

German multinational travel and tourism company TUI AG on Wednesday said it has a "very successful financial year" after its merger with the UK's TUI Travel.
The group's turnover grew 1% to €18.71bn during the year and underlying earnings before interest, tax and amortisation (EBITA) rose 14% to €868.5m.

TUI's outlook was driven by a strong development of the group's operating performance, lower interest costs and a decline in one-off expenses.

A merger with British leisure travel group TUI Travel is expected to be completed next week. The group believes the merger will form the world's number one integrated tourism group.

Chief executive Fritz Joussen said: "We have delivered on our promises: We have significantly outperformed against our earnings targets.

"As a fully integrated tourism group, we are perfectly positioned for further, accelerated growth in the future. This will create value for our shareholders and secure jobs in the long term."

Following the strong results, the group announced it will be proposing a dividend of 0.33c in February next year at its annual general meeting.

Standard & Poor on Wednesday raised TUI's rating to "BB-" from "B+".

Suspended.

Applications have been made to the UK Listing Authority and the London Stock Exchange for the TUI AG Shares to be admitted to listing and trading on the Main Market of the London Stock Exchange with effect from 8:00 a.m. on 17 December 2014.

TUI Travel, TUI AG merger completes

Now the merger is completed - The new company name is TUI GROUP (ticker : TUI)


SEE NEW THREAD

http://www.moneyam.com/InvestorsRoom/posts.php?tid=18530#lastread