Tour operator TUI posted a third-quarter operating loss, blaming higher costs related to air traffic disruptions across Europe
Incoming CEO sees stable demand in challenging environment, one of the world's largest tour operators, took a 75 million euros hit in the third quarter from flight disruption across Europe, pushing it to a loss on Wednesday.
"The whole system is still very fragile, and we have days with hardly any disruptions, and we have weeks and days with a lot of disruptions," Ebel, who is replacing long-time chief Friedrich Joussen in October, told journalists.The extra costs however come as demand holds up, with summer holiday bookings on track to reach near pre-pandemic levels in 2022. The group still expects to return to significant profits this year.
Airports across Europe have seen chaotic scenes in the past few months as staff shortages led to long queues and flight cancellations, while labour strife added to the travel sector's woes.
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