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TUI AG says more confident for Hapag-Lloyd cruises unit

Reuters - UK Focus

FRANKFURT, Feb 12 (Reuters) - German travel and tourism group TUI AG (Xetra: TUI1.DE - news) said it was more confident for its struggling Hapag-Lloyd cruises unit as it reported quarterly results on Wednesday.

The group, which owns 55 percent of Europe's largest tour operator TUI Travel (LSE: TT.L - news) , said its first quarter underlying operating loss was flat at 140.6 million euros ($192.3 million), while sales dropped 2.9 percent to 3.4 billion euros.

It said it continued to expect turnover to rise between 2 and 4 percent and operating results to increase 6-12 percent in the year to end-September.