€75M Blow for TUI Eats into ‘Clear’ Profit

Recent air disruption reportedly resulted in a profit loss for the business

TUI has taken a €75 Million hit from recent air disruption, taking the company out of ‘clear’ profit from a strong quarter.

The operator has expressed annoyance at the recent air disruption, mainly within the UK, which reportedly affected the operators third-quarter earnings which resulted in a loss for the business.

Speaking on the hit, TUI CEO designate Sebastian Edel said,

“Our business performed well in the third quarter – despite the operational challenges in the European tourism sector. This shows the strength of the TUI brand and high demand for holidays,”

TUI seen a cash flow increase of €1.2 billion over the summer period, in comparison to the previous year, with the business reaching close on pre-pandemic figures,

Ebel continued,

“We want to offer TUI’s high standards of quality and service, despite the difficult environment. We continue to expect a strong travel summer 2022 with capacity close to pre-crisis levels,”.

Despite taking over 5.1 million passengers during the third quarter, resulting in a €4.43 billion turnover period, the company fell short of its breakeven target.