Tui News
TUI losses double but demand picking up
Europe’s largest tour operator, TUI Travel, has reported a doubling of net quarterly losses to £124 million due to planned capacity reductions and tougher trading. But strong demand for holidays this summer has led to rising prices and an improved outlook.
TUI UK launch a new graduate leadership programme
While the job market has been tough for graduates over the last 12 months, TUI UK & Ireland, the parent company of Thomson and First Choice is bucking the trend by launching a new graduate development scheme.
Tui bucks recession to post profit
TUI Travel has bucked the global downturn and reported an 11% increase in underlying operating profit to £443m for the year ended 30 September 2009. Europe’s biggest tour operator’s revenues stayed the same at £13.8bn, while underlying earnings per share increased 17% to 23.8p.
TUI Travel cuts Boeing deal to boost finances
U.K. holiday company TUI Travel has announced measures to help it refinance a £900 million pound shareholder loan which include cancelling ten of the 23 orders it has with Boeing for its 787 Dreamliner.
TUI Travel UK to increase its apprenticeship programme by 50% for 2010
On the day that Gordon Brown promised to “encourage a whole new generation of young Britons to embrace ambition and British enterprise”, TUI Travel UK & Ireland (TUI UK), parent company of Thomson and First Choice, has reaffirmed its pledge to create 500 new apprenticeship places for young people in 2010.
Late bookings flurry boost Tui profits 57%
A surge in late booking by UK holidaymakers has helped profits of Tui Travel rise 57% to £102m in the quarter ending June. Receding fears over swine flu, including a flurry of bookings to Mexico, also contributed to figures that remain on target for the financial year ending 30 September.
Tui to shore up Hapag Lloyd
Tui has agreed in principle to meet part of the financial assistance to beleaguered shipping company Hapag Lloyd, which is partly sold off in March.
Thomson Sport partners World Sport Destination Expo
World Sport Destination Expo, “The Global Market Place for Sport Tourism”, has appointed the world leader in sports travel, Thomson Sport, as its Official Travel Partner.Thomson Sport, the specialist division of travel giant TUI, will be responsible for organising travel, accommodation and additional services for officials and delegates attending the ground-breaking sport tourism exhibition, which takes place during FIFA 2010 in the Official Host City, Johannesburg, 5-9 July 2010.
TUI Travel reports major losses
TUI Travel has reported a record £333 million half-year loss after figures were hit by the weak pound and Easter falling in the second half of its trading year. The deficit for the First Choice and Thomson holidays firm was 13% wider than 2008, although it did see first-half revenues improve 4% to £5.38 billion.
TUI eyes European sale
The TUI Group is looking at a strategic reshuffle that would see its power base shift from the UK towards Germany. Its UK-listed TUI Travel, which handles most of its TUI Tourism, is currently 51 percent owned by the Hanover-based TUI Group.The move would see the remaining 49 percent share sold to the controlling shareholder, with TUI Travel losing its continental operations.
TUI enters Russia and Ukraine
TUI Travel has announced its entry into the Russian travel market through a joint venture with oligarch Alexei Mordashov.The group, which first announced plans to create a joint venture with the Russian billionaire’s S-Group Capital Management last April, said it had now signed a definitive agreement.
TUI and ESAS buy into Air Berlin
TUI Travel has acquired a 19.9 percent share in the Europe’s third largest low-cost carrier, Air Berlin, for €64.8m, in a strategic alliance deal that will also see Air Berlin taking over operations of TUI’s struggling German airline operations, Hapag-Lloyd Flug and Tuifly.The announcement comes the day after a separate deal between Air Berlin and ESAS Holdings, a Turkish conglomerate, for a 15.3 percent in Air Berlin formerly held by U.S. billionaire Len Blavatnik. The two deals end months of speculation over the future ownership of the budget carrier.