German tour operator TUI reported a narrower net loss in the second quarter on Wednesday, despite revenues remaining nearly flat year over year.
TUI said it now expects operating profit (EBIT) for fiscal 2026 to range between €1.1 billion ($1.3 billion) and €1.4 billion, in line with guidance issued in April. The company said it aims to return to roughly the prior year’s level.
The prior guidance was 7% to 10% growth in constant currency from last year's €1.41 billion.
The company then had suspended revenue guidance of 2% to 4% increase in constant currency from last year's €24.18 billion.
The firm previously said the adjusted guidance reflected then trading conditions for the summer season and assumes no material escalation in geopolitical tensions and that fuel supplies could be maintained.
In the second quarter, the travel group loss attributable to shareholders was €282 million, narrower than last year's loss of €306 million.
Underlying loss per share was €0.64, compared to a loss of €0.69 a year ago.
EBIT loss was €206 million, compared to a loss of €217 million last year. Underlying EBIT loss narrowed to €192.7 million from the prior year's loss of €207 million.
The improvement reflected markets and airline transformation and strong cruise demand, despite one-off losses of €45 million, especially due to the Iran war.
Revenue for the quarter edged down to €3.7 billion from €3.71 billion last year.
Group customer volumes rose 2% to 5.6 million in the quarter, driven by holiday experiences.
