Package tour operator TUI Travel saw its operating loss broaden in the final quarter of 2011 despite revenue rising, as the company saw lower demand for North African destinations.
Revenue rose 5% to £2,845m from £2,716m in the final quarter of 2010, while the underlying operating loss thickened to £109m from £86m the year before.
Winter 2011/12 and Summer 2012 bookings overall have progressed as anticipated since the company's last update, with an improvement in the cumulative booked position in all key source markets.
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TUI Summer 2012 bookings are flat year-on-year versus a 14% decline for the total market.
More to follow ...
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