Tourism giant TUI reported Thursday a net loss of more than 1 billion euros between April and June, due to the almost complete cessation of activities due to the Covid-19 pandemic.
In the third quarter of its staggered 2019/2020 financial year, the global tourism giant posted a net loss, group share of 1.42 billion euros, against a gain of 22.8 million euros over the comparable period of the previous fiscal year , and its turnover collapsed to 71.8 million euros, an annual decline of 98.5%.
TUI Group (English: Travel Union International) is a multinational travel and tourism company headquartered in Hanover, Germany. It is the largest group and leader in tourism in the world and the leading Belgian tour operator. It has travel agencies, hotels, cruise ships, retail stores and six airlines. It is the largest vacation fleet in the world.