"The ongoing conflict in the Middle East and the uncertainty surrounding its duration continue to limit near-term visibility and drive consumer caution."
"TUI has now lowered its operating profit forecast for the year to between €1.1 billion and €1.4 billion, down from earlier expectations of €1.5 billion to €1.6 billion."
"Despite the pressure, TUI insisted it remains financially strong and well-positioned to manage volatility, citing its balance sheet flexibility and ongoing strategic restructuring plans."
TUI Group incurred a €40 million loss in March due to the conflict in Iran, which disrupted operations and forced evacuations. The company repatriated around 10,000 passengers and staff from various destinations, including Abu Dhabi, Cyprus, Turkey, and Egypt. TUI has suspended revenue guidance and downgraded its profit forecast for the year to between €1.1 billion and €1.4 billion. The conflict has shifted customer demand towards western European locations, while rising oil prices have increased operational costs.
Read at London Business News | Londonlovesbusiness.com
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