- European 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.
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