Pandemic leaves Tui deep in the red - News Summed Up

Pandemic leaves Tui deep in the red


Good morning. The travel group Tui has slumped to a €1.1 billion quarterly loss after the Covid-19 pandemic led to the closure of hotels, the grounding of flights and the cancellation of cruises. The underlying loss in the three months to the end of June compares to a profit of €102 million in the same period last year. Tui’s revenues fell by a remarkable 99 per cent to only €72 million. A mere 55 of the company’s hotels, about 15 per cent of the total, reopened during the quarterTui, the world’s largest tour operator, said that bookings for summer 2020 remained 81 per cent down despite hotels reopening, meaning that only 16 per cent of its original programme for the season had been taken,


Source: The Times August 13, 2020 07:52 UTC



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