TUI AG : Profit Warning on the impact of the grounding of the fleet of Boeing 737 Max – Buy, target price adjusted to € 12.9
>Significant downward revision to guidance for 2019 EBITA - impact of the grounding of the Boeing 737 max - On Friday, TUI announced a fresh profit warning on 2019. Management now anticipates group EBITA adjusted down 17% y-o-y, vs stable previously. This is the second profit warning, after that issued in at the beginning of February, but this time the reasons are different since it is not the underlying activity which is to blame but rather the decision to ground the...TUI is engaged in the tourism business, operating in some 180 countries. Co.'s segments include Hotels & Resorts, Cruises and Other Tourism. The Hotels & Resorts segment comprises all Group-owned hotels and hotel companies in TUI Group. The segment comprises majority participations in hotels, joint ventures with local partners, stakes in companies. The Cruises segment consists of Hapag-Lloyd Cruises and the joint venture TUI Cruises. Other Tourism segment comprises central functions such as destination services, IT, aviation control and the French airline Corsair.
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