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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
TUI Summer 2012 bookings are flat year-on-year versus a 14% decline for the total market.
More to follow ...
jh
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
