August 13, 2020

Pandemic pushes tourism giant TUI deep into loss

Frankfurt am Main (AFP) – The world’s largest tour operator TUI said Thursday it slumped to a huge loss in the third quarter as the coronavirus pandemic ravages the global travel sector. The German tourism giant, which has already announced job cuts and store closures, posted a bottom-line net loss of 1.42 billion euros ($1.7 billion) in the period from April to June. In the same period a year earlier it booked net profit of 22.8 million euros.TUI runs its business year from October to September, and in the nine months to June, TUI’s cumulative net loss amounted to 2.3 billion euros.   In the …

source https://this.kiji.is/en/666555465983951969?c=648607265489716321

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