| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
TUI quarterly losses deepen as pandemic bites
StockMarketWire.com
|
Travel company TUI booked a deeper first-quarter loss as the global vacation market continues to struggle during the pandemic.
Losses for the three months through December amounted to €813.1 million, compared to year-on-year losses of €105.4 million.
Revenue plunged 88% to €468.1 million and underlying earnings before interest and tax amounted to a loss of €698.6 million.
TUI said winter 2020/21 bookings were down 89% as a result of extended travel restrictions across key European markets during November and December.
Summer 2021 bookings, including amendments and voucher rebookings, were down 44% versus summer 2019, chosen as a comparative because it was undistorted by Covid-19, the company said.
TUI added that 2.8 million customers were currently booked for its summer 2021 programme, and that it continued to plan to operate at around 80% capacity of summer 2019 for summer 2021.
Story provided by StockMarketWire.com
|
|
|
|
|
|
