TUI’s cruise division losses deepen
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TUI AG’s cruise division has posted a deeper loss with its operating result EUR10m (GBP8.5m) lower than the same nine months last year.
In a recent financial statement, TUI said the nine months up to 30 June showed an operating result of –EUR18m, down from the –EUR8m figure posted at the same point last year. The company blamed the lower numbers on a weaker performance of Hapag-Lloyd Kreuzfahrten.
The cruise division actually saw a rise in turnover to EUR188m, which the group said was “mainly driven by the expanstion of the fleet to include Ms Europa 2”, which was launched in May this year.
However the start-up costs of MS Europa also impacted its overall results, as did a fire to MS Hanseatic during a drydock period, which forced two cruises to be cancelled.
Hapag-Lloyd’s occupancy was down 4.6% for the nine months although the average rate per passenger per day increased 8% to EUR409.
TUI Cruises’ ships were full with the average rate up 3% to EUR147.
Overall, the TUI Group posted a loss of EUR252 million. More here
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