May 27, 2020

The benefit of TUI is doubled by the 737 MAX aircraft crisis – La Provincia

TUIGroup registered red numbers of 320.1 million euros during the first nine months of its fiscal year, ended June 30, which means multiplying by 2.2 times the losses recorded a year before 140.3 million euros .

The largest tourist group in the world, which has among its investees the Spanish hotelRIU, achieved an attributed profit of 21.7 million euros, which is 84.6% less than in the same period last year. Its revenues grew 3.7%, to 4,576 million euros.

One of the main causes of the setback is "the impact of leaving the 737 MAX aircraft on land," said CEO, Fritz Joussen. This was estimated at 144 million euros. In contrast, the activity in its holiday segment Holiday Experiences improved by 16.7% the underlying result.

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