TUI posts €1.5bn loss; eyes Greece, Balearics and Canaries for recovery

Wed, 12th May 2021

Travel company TUI racked up a €1.50 billion first-half loss as the pandemic continued hammer the tourism sector. The massive loss for the six months through March was deeper than a year-on-year loss of €815 million. Revenue slumped 89% to €716.3 million. 'The continued vaccination progress across our key customer markets and destinations, combined with more testing, and comprehensive hygiene measures throughout our eco-system, should enable the safe return to holidays this summer,' TUI said. It added that it had a pipeline of 2.6 million customers booked for the summer 2021 season. TUI had a planned capacity of 75% of summer in 2019 for its upcoming peak summer months. The re-opening portfolio would focused on destinations such as Greece, Balearics and Canaries 'with anticipated good vaccinations rates and low infection rates', it said. At 8:15am: (LON:TUI) Tui AG share price was 0p at 390.5p Story provided by StockMarketWire.com

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