Major UK travel operator reports profits dip amid Middle East conflict

Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleEuropean travel operator Tui saw its third-quarter pre-tax profits fall by 43 per cent to €153.4 million (£131 million) as consumers delayed bookings amid Middle East conflict uncertainty. The firm absorbed an €81 million (£69.2 million) financial hit over nine months due to the Iran war and Jamaican hurricanes, including a €20 million impact on its cruise division. Underlying quarterly earnings dropped 27 per cent to €233.8 million (£199.7 million) alongside higher fuel costs and a 3 per cent decline in total customer numbers. Chief executive Sebastian Ebel cited geopolitical tensions, inflation and economic weakness in European markets for altering the timing of consumer travel decisions. Tui kept its full-year outlook unchanged after reporting a recent 7 per cent rise in bookings over the last month, driven by strong demand for Greece and Spain. In fullTui profits slump as travellers avoid flying during Middle East conflictMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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