TUI suffers by the detention of the 737 Max

The prohibition to fly the Boeing 737 Max, after two crashes murderers in march and October, has heavily impacted the results of TUI. Obliged to overturn disast

TUI suffers by the detention of the 737 Max

The prohibition to fly the Boeing 737 Max, after two crashes murderers in march and October, has heavily impacted the results of TUI. Obliged to overturn disaster its fleet of aircraft medium-haul, the German tour operator, world leader in its category, has recorded a fall of 84.6%, to 21.7 million euros of its net profit in the third quarter of fiscal year 2018-2019. The leaders had prepared the minds in march, reducing the yearly financial objectives. Down the fifteen Boeing 737 Max to its fleet house (about 150 devices in total) to rent to others has a negative impact on margins, resulting in additional costs. These costs are expected to exceed 300 million euros over the full year.

"The strength of a unified brand and the direct access we have to our database of over 21 million clients offer a great potential for the future"

Fritz Joussen, ceo of TUI

"Despite the competitive environment, our business remains robust, reassures Fritz Joussen, chairman of the management board. We are building on a solid performance in 2019, even if the results will not match those of last year, as expected ...

Updated Date: 19 August 2019, 00:00

Kathleen Lees

Lees


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