Operating profit at the tourism company thus came in 41 million euros lower than analysts had forecast at 275 million euros. The share lost up to four percent in early trading and slipped to the bottom of the MDAX. Since the start of the war at the end of February, the shares have lost twelve percent in value.
Sebastian Ebel said at the presentation of the balance sheet: “2026 is not a normal year. Demand remains even in phases of geopolitical crisis – but it is becoming more short-term.” People continued to travel, but decided later and increasingly preferred cheap last-minute offers. To protect the margin, TUI reduced its offering by five percent.
The number of customers fell by 3.3 percent to 9.9 million. The Iran war cost the group around 60 million euros in profit, partly due to repatriation operations for stranded holidaymakers and two cruise ships that were stuck in the Persian Gulf for weeks. In recent weeks, however, bookings have picked up again – Ebel spoke of a “very strong normalisation of business”.
TUI confirmed the profit forecast for the current financial year, which was lowered in April, on the condition that geopolitical tensions do not escalate and fuel supplies remain secure. The company currently sees no concerns about flight cancellations due to a shortage of kerosene.
Source: Tagesschau
