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Thomson flights boost TUI revenues
Higher turnover generated by flight operations in the UK helped boost TUI revenues in the first nine months of the financial year.
The German travel group’s Northern Europe division, which includes TUI UK, saw turnover in the first three quarters of 2005 rise by 2.3% to euros 3.95 billion against euros 3.86 billion the previous year.
The division’s turnover for the third quarter increased from euros 1.79 billion in the previous year to euros 1.82 billion with the number of customers rising by 3.5% to 2.49 million.
This resulted in earnings of euros 226 million for the third quarter, a rise of 19.6% year-on-year from euros 189 million.
The cumulative earnings for the first three quarters of 2005 reached euros 153 million against euros 123 million.
“The 24.4% year-on-year increase was primarily attributable to the good performance of the Nordic countries, the British tour operating business as well as the positive effects of the restructuring measures initiated in 2004,” TUI said.
A total of 5.63 million passengers travelled with tour operators in the division, an increase of 4.6% in the first three quarters of the year.
“Given a largely stable development in the tour operator business, this growth resulted mainly from higher turnover generated by the flight operations in the UK,” TUI said.
Overall TUI group earnings from tourism in the quarter reached euros 590 million, a 3% rise. Turnover rose 7% to euros 5.29 billion.
The group handled 7.79 million customers in the quarter, up from 7.26 million in the same period last year.
Total customer numbers rose by 8.8% to 17.34 million in the first three quarters of the year, with turnover up 6% to euros 11.29 billion and earnings up by 8.1% to euros 492 million.
TUI CEO Michael Frenzel said: “The two cornerstones of our group, tourism and shipping, have proven to be stable and profitable.
“Despite some unexpected influences which affected the earnings performance in the first nine months, we are optimistic that we will achieve our earnings objectives in both divisions.”
Report by Phil Davies
Phil Davies
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