United Kingdom
United States
Asia Pacific
TUI issues profit warning
TUI, Europe’s largest travel operator, has issued a profit warning and will not specify its expectations for 2003.
Sales for the TUI Group as a whole are expected to show a decrease of four or five percent for 2002, year-on-year. Pre-tax profits for the Group in 2002 are expected to be below 2001, at around €600 million.
In a statement the company said: “The TUI Group’s core business, tourism was significantly affected by the knock-on effect of the terrorist attacks on 11 September 2001, the continuing weakness of the German economy, and the further terrorist attacks on Djerba and Bali”.
Following a supervisory board meeting yesterday, the TUI board said it declined from issuing a statment for 2003 in light of economic and political uncertainty.
The Group reported a continuing trend for late bookings, and ongoing depression in German and UK markets. However, TUI said sales for the ongoing winter season for the Group as a whole were at the same level as last year, and that its no-frills venture, Hapag-Lloyd Express was performing well. TUI claims that since launch, around 350,000 trips have been sold.
Related News Stories:
Darren Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference
Insights from James Ferrara on Inteletravel’s Growth and Future
BA pilot dies during layover
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls