TUI Hails Rebrand a Success as Turnover Grows

TUI cut its winter losses by almost 26 per cent to €158.6 million for the first six months of the year after increasing its turnover by 7.2 per cent to €6.81 billion

In the Northern region, including the UK, the first half loss was down 12.7 per cent to €120.5 million, which the Group said was partly due to the rebranding from Thomson to TUI, which was completed during the period at an additional cost of €20 million.

The Northern region also earned an additional €15 million during the first half of the year due to the early Easter.

“We continue to deliver growth, all trends remain intact, and our very good trading performance for summer 2018 fully matches our expectations,” said Group CEO Fritz Joussen.

“At growth of 26 per cent in our operating result and 7 per ceny in turnover, TUI Group concludes the first half of financial year 2018 with a very strong set of results, and we reiterate our full-year guidance.”

He said forecasts for cruising are ‘excellent’ and confirmed additional ships will be delivered to TUI’s cruise subsidiaries in 2018, 2019 and 2023. The Board has also today agreed to construct a third expedition ship for Hapag-Lloyd Cruises.

The Group also plans to continue to expand its hotel companies: RIU, Robinson, TUI Magic Life and TUI Blue, which currently have 380 properties in total.