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☆ Travel giant TUI smashes earnings expectations as investors decide on London exit
▼ + stars: | 2024-02-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Passengers board on the TUI bus at Palma de Mallorca airport on June 18, 2020 in Palma de Mallorca, Spain. German travel giant TUI on Tuesday posted a quarterly profit of 6 million euros ($6.46 million), defying expectations on the back of upbeat travel demand. For the same quarter last year, Europe's largest travel operator posted a 153 million euro net loss. "In a persistently challenging environment, people's high willingness to travel ensures strong economic development in all areas of the Group." A total of 3.5 million guests travelled with TUI during the three-month reporting period, up from 3.3 million the previous year.

Persons: TUI, Sebastian Ebel, Tui Organizations: Palma de Mallorca, TUI, Deutsche Bank, Deutsche Bank analysts Locations: Palma, Palma de, Spain, TUI, Europe

☆ European travel giant Tui will leave the London Stock Exchange
▼ + stars: | 2024-02-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Tui, one of the world’s largest travel agencies, will leave the London Stock Exchange in June — the latest blow to the British capital’s longstanding reputation as the undisputed leader of Europe’s stock markets. Shareholders in the German company, which is dual-listed in London and Frankfurt, voted Tuesday to delist the firm from the London Stock Exchange. The company expects to cancel its shares on the London Stock Exchange in late June. A Tui cruise ship in Malaga port in June 2021. Jorge Guerrero/AFP/Getty ImagesHeadquartered in Hanover, Tui owns more than 400 hotels, 16 cruise ships, five airlines and 1,200 travel agencies.

Persons: London CNN —, Tui, Mathias Kiep, “, ”, Delphine Currie, Reed Smith, Jorge Guerrero, “ It’s, ” Kiep, Sebastian Ebel Organizations: London CNN, London Stock Exchange, Shareholders, ARM Holdings, …, Getty, Revenue, Canaries Locations: London, Frankfurt, United Kingdom, Germany, New York, “, Amsterdam, Paris, Malaga, AFP, Hanover, Tui, Israel, East, Egypt, Cape Verde, Mexico, Thailand, Dominican Republic, South Africa, Red Sea, Yemen

Factors such as cheaper airfares and weaker currencies in Scandinavia could play a role, but one of the world's biggest tour operators TUI (TUI1n.DE) said on Wednesday that climate change will also drive more tourists northbound. Tour operators in places like northern Norway also see an increased demand. This had resulted in more direct flight routes to Northern Norway being created, it said. Heather Storgaard, a Scottish tourist, planned her summer vacation this year in Denmark, with a stop in Northern Germany. Wissenbach is often in Italy due to work but said she preferred the north for holidays.

Persons: Sebastian Ebel, Ebel, TUI, Fabio Scaglione, Diego Bruno, Bruno, Heather Storgaard, we'd, Margit Wissenbach, Joanna Plucinska, Marie Mannes, Rachel More, Alberto Chiumento, Mark Potter, William Maclean Organizations: Mastercard, TUI's, Stockholm, Thomson Locations: Europe, Denmark, Finland, Netherlands, Norway, Sweden, Scandinavia, Poland, Belgium, Greece, Rhodes, Northern Norway, Turin, Italy, Italian, Spain, Scottish, Northern Germany, France, Germany, Switzerland, Gothenburg, Wissenbach

☆ Strong travel demand helps TUI swing back to profit
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

That was despite prices rising 7% over last year, indicating that the higher cost of travel wasn't dampening demand. In particular, the wildfires in Rhodes, Greece meant approximately 8,000 TUI customers had to leave their hotels, TUI said. The cost of that will be reflected in the full-year results and is expected to be close to 25 million euros. Ebel said that the Mediterranean region in Europe remained one of the top destinations for the tour group despite extreme weather. "The heatwave in Northern Europe in June and the wildfires in Southern Europe have only dampened temporarily the previously strong development," he said.

Persons: Borja Suarez, Sebastian Ebel, TUI, Ebel, Joanna Plucinska, Friederike Heine, Conor Humphries Organizations: Gran Canaria, REUTERS, Borja Suarez LONDON, Airlines, TUI, Thomson Locations: Puerto Rico, Gran, Spain, Europe, Rhodes, Greece, Northern Europe, Southern Europe

☆ TUI sees strong summer bookings as travel recovery gains momentum
▼ + stars: | 2023-02-14 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

LONDON, Feb 14 (Reuters) - Holiday group TUI (TUIGn.DE), said on Tuesday it was seeing a positive travel recovery trend for the upcoming summer season as holidaymakers make plans to enjoy their breaks following a pandemic hiatus. Upcoming bookings for the 2023 winter and summer seasons hit 8.7 million. Low-cost airlines such as Ryanair, Wizz Air and easyJet all reported strong summer bookings earlier this year. Revenue improved by 1.4 billion euros to 3.8 billion euros year-on-year, with a growth of around a million guests to 3.3 million from the previous quarter. Separately, TUI shareholders are expected later on Tuesday to vote on a capital increase plan to repay Germany's Economic Stablisation Fund.

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