Business

I reveal £63m made from recent travel chaos | Business newsletter



Tui has revealed the €75m (£63m) gain from the recent travel chaos.

The holiday group said its customers were affected by around 200 flight cancellations in May and June, particularly due to issues at Manchester Airport.

Many airlines have had to cancel flights and there have been delays with baggage queues, security and check-in, mainly due to a lack of airport staff.

The UK’s biggest airports, Heathrow and Gatwick, were the most affected, both of which required airlines to cut flight schedules so they could accommodate demand.

Tui said the company remained at a loss for the three months to the end of June, due to disruption costs.

It reported a pre-tax loss of 27 million euros (£23 million) in its third financial quarter.

Tui CFO Sebastian Ebel will take over as chief executive at the end of the month when Fritz Joussen steps down.

Mr Ebel said that “the entire European aviation sector continues to face challenges”, adding: “We are continuously addressing the operational challenges of the (travel) restart process.” calendar after the relaxation of COVID-related restrictions).

Read more:
Heathrow and easyJet update on flight chaos as both reveal big financials
British Airways stops selling new tickets for short-haul flights from Heathrow until August 15

“We want to bring to our customers Tui’s usual high standards of quality and service.

“Therefore, the topics of quality and customer experience are at the forefront of my agenda.

“To this end, I will engage in in-depth conversations with destinations, retailers, as well as with system partners such as airports and airlines.”

However, quarterly results were still a big improvement with an underlying loss of €669.8m (£566m) seen at the same time last year.

The company said that if the impact of the airport disruption were to be removed, it would report basic income of 48 million euros (£41 million) – its first quarterly profit since the pandemic began.



Source link

news7g

News7g: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button