TUI AG : Q1 broadly in line, bookings holding up
>Q1 figures, broadly in line with forecasts - TUI has just published a trading update for its Q1 to end-December. Group revenue was € 2.37bn, a shade above forecasts, i.e. five times higher than in Q1 2021, but 40% below the pre-crisis level. Activity has been driven (compared with Q1 2021), by the 'Markets & Airlines’ division, notably in mainland Europe which has benefited from an easing of restrictions. Group EBIT was negative to the tune of € 273m, vs -€ 258m fo...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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