TUI plans operations overhaul with 8,000 job losses
The tour operator is planning a leaner business, resulting in 8,000 job losses and restructuring of operations
Company
TUI AG
LON:TUI
TUI Travel, now assimilated into its German parent company, TUI Group, has become one of the world’s leading international leisure travel groups operating in over 180 countries with more than 30 million customers in 25 source markets.
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TUI and Aston Martin among key updates for Wednesday
The mid-point of the week will also continue figures from the UK property sector with results from British Land Company, as well as a dollop of macro data from the latest UK GDP figures
TUI downgraded to ‘sell’ by UBS as recovery could be slower than expected
The tour operator may struggle with its cash position as the first trips will be travellers who are rebooking cancelled holidays
TUI cancels a further 143,000 holidays, BA eyes Gatwick exit
In other travel news a row continues to roil over refunds, while BA has told staff that it may not reopen its Gatwick hub
TUI secures €1.8bn German state loan and cancels holidays for five more weeks
Bookings for beach and cruise holidays from 14 May have been cancelled until at least June
TUI nosedives as it withdraws guidance and suspends ‘vast majority’ of travel operations amid coronavirus crisis
The package holiday operator said package travel, cruises and hotel operations will be suspended “until further notice”
Tui, Carnival and Kingfisher poised to drop out of FTSE 100
NMC Health is certain to be demoted from the index in next week's quarterly review but could be joined by many more, including Morrison's, Meggitt, Pearson and several more
Coronavirus: TUI share slump continues as Tenerife hotel is quarantined
Travel stocks suffered their latest knock on Tuesday as a Tenerife hotel was lockdown into coronavirus quarantine.
TUI buoyed by bookings surge but concerned over Boeing Max
Full-year underlying earnings (EBIT) are now expected to be €850mln-1.05bn as opposed to previous guidance of €950mln-1.05bn
TUI spins off cruises business into Royal Caribbean joint venture
The travel group said it will receive net cash of €700mln and a big boost to the book value of the business
Coronavirus hits travel shares but TUI sell-off “overdone” says HSBC
Shares in the Anglo-German tour operator are pricing in a mid-teens decline in bookings
TUI downgraded as Berenberg warns firm is making “strategic error” pursuing new growth areas
The German bank said the travel group’s shift toward cruise and hotel operations and away from its core business, “had not delivered the growth it promised”
TUI trims dividend policy as profits dip on Boeing MAX grounding
If the MAX aircraft returns to service by the end of April, there will be an extra €130mln cost, with an extra €220-270mln if the Boeings remain grounded until the end of the financial year
TUI tumbles as Morgan Stanley flags dividend risk
The success of TUI's plan to increase 2020 capacity by around 10% of extra holidays depends on consumer demand and competitor responses, the analysts said
TUI adds 2mln more summer holiday seats as Thomas Cook collapse boosts demand
Tui’s in-house airline also said it will create jobs for more than 100 pilots and over 200 cabin crew, with many to be recruited from its former competitor Thomas Cook
Thomas Cook: who will be the winners and losers?
The demise of the world's oldest travel agent has given rise to both opportunities and risks for its rivals in a cutthroat industry
TUI promises to pick up Thomas Cook’s stranded customers
The company is evaluating the short-term impact, while expected full-year earnings remain in line with previous forecast
Archive
UK Supreme Court to rule on parliament prorogation, TUI provides travel update
Tuesday will also see updates from Card Factory, Hotel Chocolat and AG Barr
FTSE 100 closes higher as attention turns to July's Fed minutes
The UK's premier share index finished up 78.97 points at 7,203.97
TUI continues to blame Brexit and 2018 heatwave as third-quarter earnings halve
UK tourists are holding back on expensive holidays as they await the outcome of Brexit, while people are choosing to book later in case there’s another heatwave and they can ‘staycation’ instead