TUI lost €1.42 billion due to the pandemic

By: Miguel A. Rodriguez

09:45, 14 September 2020

It has been a difficult three months for TUI

The world’s largest leisure, tourism, and travel company, TUI AG, posted today its quarterly earnings. The figures that came in reflect the pandemic’s effect over the hospitality and travel sectors. 

For Q2, TUI’s net loss was of €1.42 billion. Last year it had a profit of €22.8 million. 

Its quarterly turnover figures came lower than the €837.8 million forecasted at €71.8 million. However, this year’s results are higher than last year’s €4.75 million. 

Impairments caused by the pandemic and the increased net costs from hedging contracts made the Germany-based London-stock-exchange-listed company post a loss before taxes and interest of €1.1 billion.  

To partially get back on its feet, TUI will receive from the German government a stabilization package worth €1.2 billion. 

At the moment of writing, TUI stock price lost 4.94%.

On you can read about the latest earnings reports!


Share this article

The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.