TUI has reported sustained demand for holidays despite the Iran war, as the world’s biggest travel company posted lower-than-expected quarterly losses and said bookings for the second half of the year remained strong.
The German tourism giant reported a loss of €188 million ($221 million) for the quarter ended 31 March on Wednesday (13 May). The figure was 9% lower than the previous year, despite a €40 million ($46 million) hit linked to the Iran war, which forced flight cancellations and the rerouting of ships.
The Hanover-headquartered company said bookings for the second half of the year were strong, with higher prices expected to boost revenue.
Analysts polled by the London Stock Exchange Group had projected a loss of €194 million ($227 million). Shares in TUI rose 0.6% at the open on Wednesday.
TUI said tourists were increasingly shifting away from destinations in the eastern Mediterranean, closer to the Middle East, towards destinations in western Europe, while also making more last-minute bookings.
“The very strong results give us confidence for the second half of the year. Due to geopolitical challenges and dynamic operating conditions, this will require great dedication and flexibility,” TUI chief executive Sebastian Ebel said in a statement.
Ebel said the company would continue to focus on diversification to remain resilient, adding that he did not expect a jet fuel shortage.
“We think that the discussion on fuel is a little bit artificial as we do see no shortages for the next weeks and I would also see no impact in the summer at all, except [higher] prices,” Ebel said.
The chief executive said there had been no negative impact on TUI cruise bookings from the hantavirus scare, adding that cruises were helping to bolster results and had “extremely strong bookings”.
TUI also confirmed its revised April outlook for operating profit of between €1.1 billion and €1.4 billion ($1.3 billion to $1.6 billion) for the 2026 financial year.
The company cut its profit forecast and suspended its revenue guidance last month amid spiralling jet fuel costs and uncertainty surrounding the Iran war.
Iran’s Revolutionary Guards (IRGC) said on Wednesday that they had targeted the U.S. Fifth Fleet headquarters in Bahrain and a U.S. air base in the ...
An Iranian drone and missile attack struck Kuwait International Airport early Wednesday, injuring several people, damaging Terminal 1 and forcing flig...
Kazakhstan has used a high-level visit by Hong Kong Chief Executive John Lee to promote itself as a gateway to Central Asia, offering investors access...
Georgian and American law enforcement agencies have dismantled two criminal groups that charged hundreds of Georgians to build fabricated asylum cases...
Protesters chanted “I can’t breathe” and threw bins at police in Southampton on Tuesday (2 June) after footage emerged showing murdered teenager...
An Iranian drone and missile attack struck Kuwait International Airport early Wednesday, injuring several people, damaging Terminal 1 and forcing flight diversions, Kuwaiti authorities said.
Kazakhstan has used a high-level visit by Hong Kong Chief Executive John Lee to promote itself as a gateway to Central Asia, offering investors access to industrial projects worth more than $100 billion and a growing regional market.
Protesters chanted “I can’t breathe” and threw bins at police in Southampton on Tuesday (2 June) after footage emerged showing murdered teenager Henry Nowak being arrested as he lay dying from a stab wound.
As Armenia approaches parliamentary elections, Russia appears to be increasing political and economic pressure on Yerevan, signalling that closer integration with the EU could lead to significant changes in labour, transport and energy arrangements between the two countries.
Severe Tropical Storm Jangmi brought heavy rain, power cuts and transport disruption across Japan on Wednesday (3 June) as it tracked towards the greater Tokyo region.
Police officers were pelted with missiles during violent clashes at a protest near the Southampton, UK, home of convicted murderer Vickrum Digwa, as anger continued to grow over the handling of the fatal stabbing of 18-year-old Henry Nowak.
Competing narratives continue to shape perceptions of the war in Ukraine, with Russian leadership suggesting a possible end phase while Ukrainian officials warn of renewed large-scale attacks and ongoing escalation risks.
An Iranian drone and missile attack struck Kuwait International Airport early Wednesday, injuring several people, damaging Terminal 1 and forcing flight diversions, Kuwaiti authorities said.
Global weather forecasters predict a strong El Niño will develop in the second half of 2026, bringing hotter, drier conditions to much of Asia while increasing rainfall in parts of North and South America.
Travellers worried about costs and flights by the ongoing conflict in the Middle East are changing their summer holiday plans, with lastminute bookings, safer destinations such as Spain, and rail travel all growing in popularity.
A Turkish Airlines plane caught fire in its landing gear tyres after landing at Tribhuvan International Airport on Monday (11 May) morning, temporarily disrupting airport operations, officials said.
ITA Airways is preparing to raise ticket prices by between 5% and 10% this year as soaring fuel costs linked to the conflict involving Iran, Israel and the U.S. continue to pressure airlines worldwide.
Dubai chef Shaw Lash at Mexican restaurant Lila Molino flies in her avocados and tomatillos, small, tart green fruits native to Central America that are a staple of Mexican cuisine and key for her colourful and spicy dishes.
Dubai has restricted foreign airlines to one daily flight to its airports until 31 May due to the Iran crisis, raising fears of significant revenue losses for Indian carriers, industry letters show.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment