TUI losses deepen in first quarter; sticks to downgraded guidance

Writer, Stock Market Wire
Tuesday, February 12, 2019 - 07:23

Travel company TUI posted a deeper earnings loss in its fiscal first quarter, as weather conditions and a weaker pound caused by Brexit uncertainty crimped margins.

Underlying Ebita for the three months through December amounted to a €83.6m loss, compared to a loss of €36.7m on-year.

TUI last week shocked the market by downgrading its earnings guidance and it reiterated that guidance on Tuesday.

Underlying Ebita was still expected to be broadly stable with the 2018 financial year's €1.18bn.

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