TUI: reduces losses in Q3

(CercleFinance.com) - TUI has reported Q3 2022 sales 4.
43 billion euros, up a staggering 582% on Q3, a very dark period of the previous year (650 million euros).

The travel and tourism company announced recurring EBIT of -27 million euros, which nevertheless improved significantly compared to the same period a year ago (-670 million euros).

However, TUI posted a loss of 331 million euros, although lower than the 940 million euros in Q3 2021.

Management said that the business performed well in Q3, despite the operational challenges in the European tourism sector, adding that it still expects a strong summer this year for travel, with capacity close to pre-crisis levels and a significantly positive recurring EBIT for the full year.

The share is down about 1.5% in early trading today.


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