War-hit Tui’s plan to navigate choppy waters
Travel giant Tui is to update investors on its plans as the industry reels from war in the Middle East.
Europe’s biggest tour operator has already said annual profits will fall as consumers delay bookings.
It will update investors on the three months to the end of March on Wednesday.
Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: ‘The Middle East crisis has led to demand in many of its travel hotspots drying up.’ Tui holidaymakers are shifting from the eastern Mediterranean towards western destinations such as Spain and Malta.
All at sea: Travel giant Tui is to update investors on its plans as the industry reels from war in the Middle East
Tui has already taken a £35m hit from the Iran conflict after repatriating 5,000 customers from ships trapped in Abu Dhabi and Doha.
It lowered annual profits expectations to between £960m to £1.22billion, and the firm may shed light on whether cruise bookings have been hit after an outbreak of a rat-borne virus on another operator’s cruise ship to Cape Verde.
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