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.

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
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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






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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