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Share slumps: Tui cancels UK travel

Turning back the lockdown measures is not going to be as easy as expected: investors have just celebrated the revival of the travel industry and set off a firework display. Now this boom in Tui shares is over again. Travel in the UK is not yet an option.

The tour operator Tui remains cautious in the UK with offers for trips abroad. As the company announces on its website, all trips from Great Britain abroad have been canceled until the beginning of July.

Tui 4.93

Cruises are only supposed to be available from November 26th at the earliest, and trips to lakes and mountains should not take place until the end of September. So far, the group had assumed that it would be able to offer package tours again from mid-June, wrote the British newspaper “Guardian”. After a day-long course party, the shares of Tui listed in Germany fell by more than ten percent to EUR 5.20.

Goldman Sachs warns investors about the share: The US investment bank only drastically lowered the price target for Tui on May 19 from 6.10 to 1.70 euros. In his study, analyst Felix Schlueter wrote that he had reduced his profit expectations because the travel group’s business was basically standing still until the third quarter.

Island is slowly approaching normality

The British government advises against all travel that is not absolutely necessary. Home Secretary Priti Patel also announced last week that anyone entering the UK would face 14 days of quarantine. Tour operators criticize this rule because they expect significant business losses. Tui is the UK’s largest travel operator. At first, no one was available for questions at the group.

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