Hapag-Lloyd boosts TUI quarter losses

Hapag-Lloyd boosts TUI quarter losses

TUI has reported a 10% growth in operating results for Q3 despite a drop in turnover. Its profits were boosted by a 43.33% rise in Hapag-Lloyd’s stake, although the cruise sector turnover was down 29% due to several MS Europa cancellations. This was due to an unexpected dry-dock period. However, Hapag-Lloyd’s container shipping service has seen growth in both transport volumes and turnover, helped by several cost-cutting initiatives. Meanwhile in its hotels and resorts, TUI’s figures showed that its occupancy remained flat, although there was a 2% fall in average revenues per bednight. Its underlying EBITA decreased

Gary Marshall
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Gary Marshall
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