Tui Q3 Operating Profit Falls 27% to €234.6 Million as Iran War Lifts Fuel Costs
Updated
Updated · The Guardian · Aug 12
Tui Q3 Operating Profit Falls 27% to €234.6 Million as Iran War Lifts Fuel Costs
2 articles · Updated · The Guardian · Aug 12
Summary
Tui’s Q3 operating profit dropped nearly 27% to €234.6 million, sending its shares down 3.1% after the travel group flagged weaker bookings and war-related pressure.
High fuel prices tied to the Iran war and more cautious travelers hurt demand, with CEO Sebastian Ebel saying travel remains important but booking decisions are coming later.
Hotels and resorts profit fell 6.2% to €122.7 million as occupancy slipped 5% to 77%, reflecting softer demand in the eastern Mediterranean, Mexico and the Caribbean.
Cruises profit tumbled 7.2% to €132.4 million after a €20 million hit from the Iran war, adding to pressure after Tui cut its profit forecast and suspended revenue guidance in March.
The warning fits a broader industry response, with Lufthansa, Air France-KLM and British Airways owner IAG also trimming or holding capacity to protect margins.