Tui News
Profits slip at TUI AG despite rise in revenue
TUI Group has seen underlying profits before tax slip during the third quarter of financial 2011, with EBITA decreasing by 11 per cent to €96 million from €108 million the previous year. In a set of mixed results, Europe’s largest tour operator said political turmoil in North Africa – particularly Egypt – was responsible for the loss.
TUI on target to meet full year guidance
Reporting its third quarter results earlier, TUI Travel confirmed it was on track to meet expectations for the full year, boosted by a strong performance in its British and Nordic businesses. Europe’s biggest tour operator reported a 57 per cent increase in operating profit to £88 million in the three months to June 30th, benefiting from the late timing of Easter this year.
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TUI Education acquires English Language Centre York
English Language Centre York, the leading provider of English language courses in York, has today been acquired by student travel business TUI Education, a division of TUI Travel. Also in the UK today, City.Mobi is celebrating the success of its new guide to York.
TUI Marine signs with JDA software
TUI Marine has signed a deal with JDA software to drive price recommendations and assist with the maximisation of revenue year-round across its entire fleet. Under the terms of the deal, the water sports provider – an offshoot of TUI Travel - will implement JDA Demand and JDA Travel Price Optimiser to set pricing using a mix of its own historical data alongside real-time competitor pricing.
TUI Travel slides out of FTSE 100
Following a six per cent fall in its share price over the past quarter, tourism giant TUI Travel will fall from the FTSE 100 during the next three-monthly reshuffle. Its place will be taken by food ingredients maker Tate & Lyle, which is re-entering the blue chip index for the first time since March 2009.
Kelly Holmes links up with TUI Education
Olympic double gold medallist Dame Kelly Holmes has been appointed as a non-executive Director of TUI Education; the Education Division of FTSE 100 listed travel giant TUI Travel PLC. Sporting legend Dame Kelly, who was made a Dame Commander of the Order of the British Empire in 2005, will commence her engagement this month.
Tui Travel acquires Magic Life
Tui Travel will acquire Magic Life and its six operating companies for €6 in cash after reaching an agreement with TUI AG.
China opens up outbound tourism market
Authorities in Beijing have granted licences to three foreign companies to organize tours for outbound Chinese tourists. TUI becomes the first European tour operator, along with CITS American Express Travel Services for the US and JTB New Century International Tours for Japan. The move is seen as key to opening up the country’s lucrative outbound market.
Tour operators offer bargain North Africa holidays
Tour operators are offering bargain packages to North Africa in a bid to lure holidaymakers back following the civil unrest earlier this year. Tui Travel has reduced the price of some holidays to Egypt, Tunisia and Morocco by nearly half to address the slump in visitor numbers. The travel giant has lost £29 million as a result of unrest.
TUI shrugs off Egypt unrest, narrows losses
TUI Travel has released financial results for the six months to March 31st revealing the tour operator minimised the impact of the unrest in the Middle East and narrowed losses overall. The FTSE 100 giant – which is majority owned by TUI AG of Germany – confirmed it lost £29 million over six months due to the Arab Spring, less than the expected £30 million.
First Choice to go all-inclusive only
First Choice holidays will make all its holidays “all inclusive” from next summer in a bid to save money. Its packages will include flights, in-resort transfers, hotel accommodation, three meals a day and unlimited local drinks as standard. The tour operator claims the move will make it the UK’s first mainstream holiday company to specialise in “all-inclusive” only.
TUI confirms Middle East disruption will hit demand
TUI has said unrest in the Middle East in recent months will cost it £25-£30 million. Demand for trips to Egypt and Tunisia have been particularly hard hit, but both now represent “exceptional value” to travellers, according to the tour operator.