Connect to share and comment

TUI Travel raises annual profit forecast

TUI Travel, Europe's biggest tour operator, announced Thursday it was raising its full-year profits forecast following robust trading during the northern hemisphere summer. The company, whose brands include First Choice and Thomson, however added that it would "significantly" cut its holidays on offer in Egypt for the upcoming winter season owing to unrest in the north African country. The London-listed company said in a statement that it expected operating profit growth of "at least 11 percent" in the 12 months to the end of September compared with 2011-2012.

German travel giant TUI reports switch to profit

German travel and tourism giant TUI on Thursday confirmed its outlook for the year after posting a net profit during its third quarter. From April to June, the group reported a net profit of 15.3 million euros ($20.4 million). That compared to a net loss of 3.3 million euros last year thanks to better business and the absence of one-off charges at its TUI Travel unit. The report surprised analysts polled by Dow Jones Newswires, who had expected a net third-quarter loss of 13 million euros. TUI operates its business year from October to September.

Britain's TUI Travel to buy 60 Boeing planes

TUI Travel, Europe's biggest tour operator, is to buy 60 of Boeing's fuel-efficient 737 MAX passenger planes for a "significant discount" to the combined catalogue price of $6.09 billion (4.67 billion euros), it announced on Friday. The British group also has the option and right to buy up to a further 90 of the planes, TUI Travel added in a statement. "TUI Travel...is pleased to announce, subject to shareholder approval, a commitment to purchase 60 narrow-body Boeing 737 MAX aircraft," the company said in the statement.

TUI Travel upbeat as summer sales follow strong winter

LONDON (Reuters) - TUI Travel <TT.L>, the world's biggest tour operator, said it was confident of hitting the top end of profit guidance for 2013 after a strong finish to winter trading and rising summer bookings. The group, which owns Thomson and First Choice, on Wednesday said in a first half trading update that its winter programme had ended strongly with higher sales at better average prices helping to offset a four percent fall in total bookings.

TUI AG mulls sale of TUI Travel stake - report

FRANKFURT (Reuters) - TUI AG <TUIGn.DE> is considering selling its stake in TUI Travel <TT.L>, Europe's largest tour operator, a German magazine reported on Wednesday. TUI AG could use the proceeds from a sale to invest in its own tourism operations and make a payout to shareholders, Manager Magazin reported without citing sources.

FTSE snaps three-day rally after miner weakness

By Alistair Smout LONDON (Reuters) - The FTSE 100 fell on Friday after a three-day rally, as investors backed away from riskier sectors and U.S. GDP figures came in below expectations. Material and energy stocks, which are sensitive to optimism over the global economic outlook, took 26 points off the FTSE 100, dragging the index into negative territory.

TUI Travel announces widening losses

TUI Travel, Europe's biggest tour operator, announced on Thursday that first-quarter net losses at the group grew by almost 16 percent to £119 million ($186 million, 138 million euros). The British company, which recently failed in a bid to merge with German peer TUI, said in an earnings update that losses after tax for the three months to December 31 widened from £103 million a year earlier. TUI Travel's financial year runs from late September.

UPDATE 2-TUI AG decides against making TUI Travel offer

* Says offer not in shareholder interest at current rates * TUI Travel says agreement could not be reached * Analysts see other deal structures as possible * Shares in TUI AG fall over 5 pct, TUI Travel down 4.5 pct (Adds share prices, analyst comment, background) By Victoria Bryan and Rhys Jones

UPDATE 3-TUI AG seeks merger with TUI Travel to cut costs

* TUI Travel says talks on all-share, nil-premium merger * TUI AG has until Feb. 13 to make firm proposal * TUI AG focusing on tourism, deal could make savings * TUI AG shares up over 9 pct, TUI Travel up 4 pct (Recasts with statement from TUI Travel) By Arno Schuetze
Syndicate content