TUI.L - TUI AG

LSE - LSE Delayed price. Currency in GBp
469.10
+26.90 (+6.08%)
As of 1:11PM BST. Market open.
Stock chart is not supported by your current browser
Previous close442.20
Open485.10
Bid468.40 x 0
Ask469.10 x 0
Day's range460.96 - 488.80
52-week range218.00 - 1,090.00
Volume3,441,948
Avg. volume5,513,306
Market cap2.763B
Beta (5Y monthly)1.46
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.45 (16.85%)
Ex-dividend date12 Feb 2020
1y target est15.65
  • Lufthansa bailout and easing travel bans give airline stocks a boost
    Yahoo Finance UK

    Lufthansa bailout and easing travel bans give airline stocks a boost

    Berlin's €9bn bailout for German flag carrier Lufthansa still needs EU approval.

  • Coronavirus: Tour operator Tui considers issuing new shares
    Yahoo Finance UK

    Coronavirus: Tour operator Tui considers issuing new shares

    Tour operator Tui is considering a issuing new shares to create a cash injection and stave off collapse if customers are slow to rebook holidays as lockdown eases.

  • Reuters - UK Focus

    Good clean fun? Holidays reinvented for the coronavirus age

    No more feasting from the hotel buffet, showing off your tan under the disco lights or impromptu dips in the swimming pool – holidaying during the coronavirus pandemic will be a more sanitised affair. As part of the hygiene ramp-up the world's biggest tourism company said holidaymakers will no longer be able to pile their plates full of food from the buffet as it was scrapping self-service restaurants, night clubs and saunas. At TUI hotels, of which there are 411, there will be more deep cleaning and hand-santiser points.

  • Reuters - UK Focus

    LIVE MARKETS-EZ industrial production: Long way back to 2017 highs

    * EZ industry output suffers record fall in March Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. The pandemic came as a huge blow to EZ manufacturers, with industry output suffering its deepest monthly fall on record.

  • Reuters - UK Focus

    LIVE MARKETS-When will a vaccine be ready? Here's a guess!

    * EZ industry output suffers record fall in March Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. A limited number of vaccine doses could be available before year end, says the European pharma team at Credit Suisse.

  • What to Watch: Aston Martin losses deepen, GDP slump, TUI job cuts
    Yahoo Finance UK

    What to Watch: Aston Martin losses deepen, GDP slump, TUI job cuts

    A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.

  • Reuters - UK Focus

    MORNING BID-Grand failures

    The views expressed are her own.) "You will get business failures on a grand scale," was the warning last night from St Louis Federal Reserve President James Bullard. Expect his boss, Fed Chairman Jerome Powell, to repeat that message tonight. Fed funds futures are pricing in rates of about a basis point below zero by April 2021.

  • Reuters - UK Focus

    LIVE MARKETS-Opening snapshot: Risk-off mood hits banks, Vodafone up

    You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. Risk-off mood gripped the financial markets on fresh fears about a second wave of the coronavirus outbreak, while the gradual easing in lockdowns is under way. While utilities, retail and telcos are standing their ground even if in negative territory.

  • Coronavirus: TUI to axe 8,000 jobs as tourism industry faces ‘greatest crisis’
    Yahoo Finance UK

    Coronavirus: TUI to axe 8,000 jobs as tourism industry faces ‘greatest crisis’

    The travel operator said it could be forced to axe up to 8,000 jobs worldwide as a result of the pandemic.

  • Reuters - UK Focus

    European holidays to restart in July, tourism to recover by 2022 - TUI CEO says

    Tourism will recover to its pre-coronavirus levels by 2022 at the latest and European holidays will restart in July said Fritz Joussen, the chief executive of travel group TUI. "I think in 2022, the latest, we will see a full recovery of tourism," he told reporters on a call. TUI said earlier on Wednesday it needed to slash costs to cope with the fallout from the coronavirus pandemic, and Joussen said that the company would in future be flexible about whether it owns assets or not.

  • Reuters - UK Focus

    LIVE MARKETS-On the radar: L'Oreal, banks, Aston Martin and Volvo

    You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. Commerzbank posted a worse than expected net loss of 295 million euros, as the lender undergoes a restructuring due to the coronavirus outbreak. Commerzbank shares are down 2.3% in early trade.

  • Reuters - UK Focus

    Anyone booking a holiday is taking a chance on future of COVID-19 outbreak -UK minister

    Britons booking a summer holiday are taking a chance on the direction of the coronavirus outbreak, transport minister Grant Shapps said on Wednesday. European travel company TUI said on Wednesday there would still be a summer holiday season this year and it was ready to resume providing holidays.

  • EQS Group

    TUI AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

    TUI AG 08.05.2020 / 16:33 Dissemination of a Voting Rights Announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Notification of Major Holdings 1\. Details of issuer Name: TUI AG Street: Karl-Wiechert-Allee 4 Postal code: 30625 City: Hannover Germany Legal Entity Identifier (LEI): 529900SL2WSPV293B552 2\. Reason for notification X Acquisition/disposal of shares with voting rights Acquisition/disposal of instruments Change of breakdown of voting rights X Other reason: voluntary group notification due to crossing a threshold on subsidiary level 3\. Details of person subject to the notification obligation Legal entity: BlackRock, Inc. City of registered office, country: Wilmington, Delaware, United States of America (USA) 4\. Names of shareholder(s) holding directly 3% or more voting rights, if different from 3. 5\. Date on which threshold was crossed or reached: 04 May 2020 6\. Total positions % of voting rights attached to shares (total of 7.a.) % of voting rights through instruments (total of 7.b.1 + 7.b.2) Total of both in % (7.a. + 7.b.) Total number of voting rights pursuant to Sec. 41 WpHG New 1.88 % 3.35 % 5.23 % 589020588 Previous notification 2.97 % 2.14 % 5.11 % / 7\. Details on total positions a. Voting rights attached to shares (Sec. 33, 34 WpHG) ISIN Absolute In % Direct (Sec. 33 WpHG) Indirect (Sec. 34 WpHG) Direct (Sec. 33 WpHG) Indirect (Sec. 34 WpHG) DE000TUAG000 0 11050218 0 % 1.88 % Total 11050218 1.88 % b.1. Instruments according to Sec. 38 (1) no. 1 WpHG Type of instrument Expiration or maturity date Exercise or conversion period Voting rights absolute Voting rights in % Lent Securities (right to recall) N/A N/A 19729522 3.35 % Total 19729522 3.35 % b.2. Instruments according to Sec. 38 (1) no. 2 WpHG Type of instrument Expiration or maturity date Exercise or conversion period Cash or physical settlement Voting rights absolute Voting rights in % Contract for Difference N/A N/A Cash 29020 0.005 % Total 29020 0.005 % 8\. Information in relation to the person subject to the notification obligation Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.). X Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity: Name % of voting rights (if at least 3% or more) % of voting rights through instruments (if at least 5% or more) Total of both (if at least 5% or more) BlackRock, Inc. % % % Trident Merger LLC % % % BlackRock Investment Management, LLC % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock Capital Holdings, Inc. % % % BlackRock Advisors, LLC % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock (Singapore) Holdco Pte. Ltd. % % % BlackRock (Singapore) Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock Holdco 4, LLC % % % BlackRock Holdco 6, LLC % % % BlackRock Delaware Holdings Inc. % % % BlackRock Fund Advisors % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock Holdco 4, LLC % % % BlackRock Holdco 6, LLC % % % BlackRock Delaware Holdings Inc. % % % BlackRock Institutional Trust Company, National Association % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Australia Holdco Pty. Ltd. % % % BlackRock Investment Management (Australia) Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock (Singapore) Holdco Pte. Ltd. % % % BlackRock HK Holdco Limited % % % BlackRock Asset Management North Asia Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Canada Holdings LP % % % BlackRock Canada Holdings ULC % % % BlackRock Asset Management Canada Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock (Singapore) Holdco Pte. Ltd. % % % BlackRock HK Holdco Limited % % % BlackRock Lux Finco S. a r.l. % % % BlackRock Japan Holdings GK % % % BlackRock Japan Co., Ltd. % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock International Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Finance Europe Limited % % % BlackRock (Netherlands) B.V. % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Finance Europe Limited % % % BlackRock Advisors (UK) Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Luxembourg Holdco S.a.r.l. % % % BlackRock (Luxembourg) S.A. % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock International Limited % % % BlackRock Life Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Finance Europe Limited % % % BlackRock Investment Management (UK) Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Luxembourg Holdco S.a.r.l. % % % BlackRock Investment Management Ireland Holdings Limited % % % BlackRock Asset Management Ireland Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Luxembourg Holdco S.a.r.l. % % % BlackRock UK Holdco Limited % % % BlackRock Asset Management Schweiz AG % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Finance Europe Limited % % % BlackRock Investment Management (UK) Limited % % % BlackRock Fund Managers Limited % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Finance Europe Limited % % % BlackRock Investment Management (UK) Limited % % % BlackRock Asset Management Deutschland AG % % % - % % % BlackRock, Inc. % % % BlackRock Holdco 2, Inc. % % % BlackRock Financial Management, Inc. % % % BlackRock International Holdings, Inc. % % % BR Jersey International Holdings L.P. % % % BlackRock Holdco 3, LLC % % % BlackRock Cayman 1 LP % % % BlackRock Cayman West Bay Finco Limited % % % BlackRock Cayman West Bay IV Limited % % % BlackRock Group Limited % % % BlackRock Finance Europe Limited % % % BlackRock Investment Management (UK) Limited % % % BlackRock Asset Management Deutschland AG % % % iShares (DE) I Investmentaktiengesellschaft mit Teilgesellschaftsvermögen % % % - % % % 9\. In case of proxy voting according to Sec. 34 para. 3 WpHG (only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG) Date of general meeting: Holding total positions after general meeting (6.) after annual general meeting: Proportion of voting rights Proportion of instruments Total of both % % % 10\. Other explanatory remarks: Date 07 May 2020 * * *08.05.2020 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: TUI AG Karl-Wiechert-Allee 4 30625 Hannover Germany Internet: www.tuigroup.com End of News DGAP News Service

  • EQS Group

    TUI AG: Preliminary announcement of the publication of financial reports according to Articles 114, 115, 117 of the WpHG [the German Securities Act]

    TUI AG (TUI) 30-Apr-2020 / 16:08 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. TUI AG hereby announces that the following financial reports shall be disclosed: Report Type: Financial report of the group (half-year/Q2) Language: German Date of disclosure: May 13, 2020 Address: https://www.tuigroup.com/de-de/investoren/finanzberichte-und-praesentationen Language: English Date of disclosure: May 13, 2020 Address: https://www.tuigroup.com/en-en/investors/reports-and-presentations * * * ISIN: DE000TUAG000 Category Code: NOR TIDM: TUI LEI Code: 529900SL2WSPV293B552 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 61369 EQS News ID: 1034115 End of Announcement EQS News Service

  • We’re All Going on a Winter Holiday
    Bloomberg

    We’re All Going on a Winter Holiday

    (Bloomberg Opinion) -- Anyone up for a beach holiday right now? The answer is probably a resounding yes, anything to escape lockdown and incessant worrying about the coronavirus outbreak and imminent global recession.But would you actually book one for this summer or even the fall? There the answer is more complicated, as it becomes painfully clear that our next vacations will be close to home and overshadowed by concerns about health precautions.There are the optimists: Almost three-quarters of the people who were due to sail in May, but had their dream cruise canceled by British operator Saga Plc, chose to rebook at a later date. The pessimists: More than half of Americans surveyed by Destination Analysts agreed their next vacation would be a “staycation.” Those organized souls who planned their July Fourth escapes before Covid-19 was upon us are playing wait-and-see. French hotel giant Accor SA has seen less than 10% of reservations for July and August scrapped. But it’s still bracing for occupancy rates of 25-30%, as opposed to 75%, when travel begins againWhat’s clear is that we’re all going to be expecting something different for our next getaway: hotels with detailed Covid-19 symptom checks, abundant hand sanitizer, rigorous disinfecting and bars and restaurants configured for social distancing.The $5 trillion global tourism industry has already taken a huge hit from the pandemic, and it’s not over. Figuring out how to cater to tourists and business travelers in this new era will throw up huge challenges for even the most flexible and deep-pocketed companies. The about 35% gain in the Stoxx 600 Travel & Leisure Index since March 18 looks overly optimistic.In the near term, consumers may be reluctant to crowd into airplanes or return to busy tourist hot spots. In response, European discount carrier EasyJet Plc said it’s likely to leave middle seats empty on aircraft with a three-seat configuration, at least when it first resumes flights. The cruise industry, a haunting symbol of the Covid-19 outbreak, is likely to promote smaller vessels, which are more easily adapted to social distancing, a robust on-board medical staff and promises to fly holidaymakers home at the first whiff of a problem. Flexible booking policies without any deposit may become the norm. If all this fails to tempt, then deep discounts will be necessary.This season may be a washout but there are some signs things will pick back up. Dart Group Plc said on Friday that bookings were still coming in to its Jet2 leisure travel business for late summer. EasyJet said winter bookings were significantly ahead of this time last year. Even if some of this may be rescheduling of trips that were canceled, it illustrates people’s eagerness to travel once again. To capture pent-up demand, tour operators including European giant TUI AG and Jet2 have launched their 2021 summer holiday programs early.It may still be a hard sell depending on the destination. For Italy, Spain and France, as well as New York City, the repercussions of having been the epicenter of the pandemic at some point may linger even longer. It took about 18 months for travel to Paris to recover completely after the harrowing 2015 terrorist attacks.With international flights grounded and foreign tourists unwelcome in most places, it’s impossible to say how soon we can start trotting the globe again. The big luxury and event-oriented hotels, such as those operated by Marriott International Inc. and Hyatt Hotels Corp., are more dependent on international travelers than their more downmarket peers. Companies will likely shore up offerings for domestic tourists. For example, Saga, which caters to the 50s-and-over crowd, already offers cruises around the British isles. This business could be expanded if customers are nervous about venturing further afield. In more thrifty times, people tend to seek out no-frills lodging. In the U.S., Wyndham Hotels & Resorts Inc., has the most exposure to the economy and mid-scale sectors, with brands such as Super 8, Ramada and Days Inn, according to Brian Egger, an analyst at Bloomberg Intelligence. In Europe, Whitbread Plc has the Premier Inn chain in Germany and the U.K., where 80% of its properties are outside of London.Airbnb Inc. may be a big beneficiary if tourists seek out private residences to avoid mingling with too many people in hotel lobbies, elevators or restaurants. The trailblazer for the sharing economy may provide more options in smaller towns or isolated regions. But as with hotels, people must have confidence in hosts’ hygiene standards.And as I have noted, some sectors, such as cruising, may struggle to attract customers other than their most ardent devotees. Carnival Corp., operator of the now infamous Grand Princess, said that as of March 15 bookings were down even for the first half of 2021. It’s hard to say just how bad and enduring the impact from this new coronavirus will be. For those companies that manage to adjust, they can expect to be rewarded with some positive long-term prospects, as more people enter the middle class around the world and an aging population has more leisure time. But it will take much more than pictures of idyllic getaways to woo them.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Coronavirus: UK airlines and travel firms accused of 'denying refunds'
    Yahoo Finance UK

    Coronavirus: UK airlines and travel firms accused of 'denying refunds'

    The UK’s biggest airlines and most major travel firms are breaking the law by denying refunds within the legal time frame, according to consumer group Which?

  • TUI cancels holidays for UK customers until mid-May
    Reuters

    TUI cancels holidays for UK customers until mid-May

    TUI Group <TUIT.L>, Europe's biggest tour operator, said beach holidays for its British and Irish customers would be cancelled until mid-May due to travel restrictions caused by the coronavirus pandemic and uncertainty about when those will end. The United Kingdom changed its travel guidance on April 4, advising against all non-essential global travel indefinitely. Previously Britons had been told to avoid global travel for 30 days from 17 March.

  • Reuters - UK Focus

    UK holiday company Jet2 cancels trips until mid-June

    Britain's second-biggest holiday company Jet2 said it had cancelled all flights and holidays until mid-June as restrictions in place due to the coronavirus pandemic show no sign of easing in the coming months. The UK changed its travel guidance on April 4, advising against all non-essential global travel indefinitely. Previously Britons had been told to avoid global travel for 30 days from 17 March.

  • Nimble Corporate Cash Managers Face a Reckoning
    Bloomberg

    Nimble Corporate Cash Managers Face a Reckoning

    (Bloomberg Opinion) --   ↵The coronavirus will leave no industry untouched but the impact is particularly acute for companies that depend on prompt payment from customers to fund their businesses.In sectors such as car making and the travel industry, it’s common for companies to hold little inventory and settle with suppliers long after they’ve received payment from their customers.As a result they often have what’s called negative working capital: Their trade payables exceed the sum of inventories and customer receivables. In other words, they owe more to their suppliers than their customers owe them.When revenues are growing, this is a big advantage. Cash pours into the business which can be used to fund investments.Customer payments and deposits effectively serve as a free form of finance and that float gets bigger as sales expand.It’s certainly a very efficient way to run a business — Amazon.com Inc. excels at it — but negative working capital can make a balance sheet look stronger than it really is. That’s because the effect is reversed when sales suddenly slow down or shrink. Suppliers still need paying but there’s little new customer cash coming in. As a result, cash rushes out the door. This is what threatens to happen now that much of the world is cooped up at home due to coronavirus.“In periods in which our vehicle shipments decline materially we will suffer a significant negative impact on cash flow and liquidity as we continue to pay suppliers for components purchased in a high volume environment during a period in which we receive lower proceeds from vehicle shipment,” Fiat Chrysler Automobiles NV warned in its annual report. A rule of thumb is that French, Italian and U.S. automakers have negative working capital, while their German peers do not. A six-week production hiatus caused by strike action lowered General Motors Co.’s free cash flow by $5.4 billion.Optimizing working capital has been a key focus for carmaker Peugeot SA and boss Carlos Tavares repeated the trick when he acquired Opel/Vauxhall from GM.Like merger partner Fiat, Peugeot has now been forced to shutter its European car plants. If sales slump for a prolonged period, its 17 billion-euro ($19 billion) cash buffer could dwindle.Tour operators are accustomed to large swings in working capital: They typically get paid by customers ahead of the busy summer season and pay their suppliers afterwards.(1) Bank overdrafts can tide them over during the winter period when cash tends to be lower.Still, a sudden slowdown in demand can upset those calculations, as Thomas Cook Group Plc discovered last year. Customers delayed bookings, suppliers tightened credit terms and the U.K. tour operator went bust.Shares in rival TUI AG slumped this week after it suspended the vast majority of its travel, cruise and hotel operations and said it would apply for state-aid guarantees. The company has 1.4 billion euros in cash and available banking facilities but this is far exceeded by a deeply negative working capital position — at the end of December it held about 2.9 billion euros of advance payments from customers.The cash spring, once a big advantage for many firms, could be about to recoil. (1) They are however required to make pre-payments to hotelsTo contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: Chris Hughes at chughes89@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Travel stocks worst hit as coronavirus pushes Italy to take over Alitalia
    Yahoo Finance UK

    Travel stocks worst hit as coronavirus pushes Italy to take over Alitalia

    Travel stocks were among the worst hit in Europe due to the consequences of the spiralling coronavirus pandemic.

  • Reuters - UK Focus

    Airlines seek emergency aid as coronavirus brings industry to near-halt

    LONDON/PARIS, March 16 (Reuters) - Airlines made unprecedented cuts to flights, costs and staffing on Monday, and stepped up calls for emergency government aid, as coronavirus lockdowns and new travel restrictions hit more major routes. Already battered shares in British Airways parent IAG , easyJet and Air France-KLM plunged again as they scrapped most of their flights for the coming weeks, joining other major carriers that are all but halting operations in the face of the pandemic. "It is now clear that the coronavirus is by far the biggest crisis in the history of aviation," Finnair Chief Executive Topi Manner said as the carrier announced a 90% capacity reduction and its second profit warning in three weeks.

  • Coronavirus: TUI suspends all package holidays and cruises and asks for state aid
    Yahoo Finance UK

    Coronavirus: TUI suspends all package holidays and cruises and asks for state aid

    It has also withdrawn its official guidance for its financial results for 2020 and shares have crashed by nearly 30%.

  • EQS Group

    TUI AG: TUI AG - Temporary suspension of the vast majority of all travel operations due to COVID-19 and implications for Guidance 2020

    TUI AG (TUI) 15-March-2020 / 23:56 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Hanover, 15.03.2020. In this rapidly changing environment the safety and welfare of our guests and employees worldwide remains of paramount importance and thus TUI Group has decided, in line with government guidelines, to suspend the vast majority of all travel operations until further notice, including package travel, cruises and hotel operations. This temporary suspension is aimed at contributing to global governmental efforts to mitigate the effects of the spread of the COVID-19. In light of this situation, the Executive Board has decided today to withdraw the Financial Year 2020 guidance as communicated on 11 February 2020. Furthermore the Executive Board also refrains from issuing a new guidance for the Financial Year 2020 under the current circumstances. Due to the unprecedented escalation of COVID-19, the Board of TUI are continuously evaluating the situation and are considering a variety of actions to support our customers, colleagues and stakeholders. The Group has cash and available facilities of approx. €1.4bn and year-to-date performance had been in-line with expectations prior to COVID-19. We are taking substantial cost measures to mitigate the earnings effect. Moreover, we have decided to apply for state aid guarantees to support the business until normal operations are resumed. ANALYST & INVESTOR ENQUIRIES Mathias Kiep, Group Director Investor Relations and Corporate Finance Tel: +44 (0)1293 645 925/ +49 (0)511 566 1425 Nicola Gehrt, Director, Head of Group Investor Relations Tel: +49 (0)511 566 1435 Contacts for Analysts and Investors in UK, Ireland and Americas Hazel Chung, Senior Investor Relations Manager Tel: +44 (0)1293 645 823 Corvin Martens, Senior Investor Relations Manager Tel: +49 (0)170 566 2321 Contacts for Analysts and Investors in Continental Europe, Middle East and Asia Ina Klose, Senior Investor Relations Manager Tel: +49 (0)511 566 1318 Media Martin Riecken, Head of Corporate Communications Group Corporate & External Affairs Tel: +49 (0)511 566 6020 FORWARD-LOOKING STATEMENTS This announcement contains a number of statements related to the future development of TUI. These statements are based both on assumptions and estimates. Although we are convinced that these future-related statements are realistic, we cannot guarantee them, for our assumptions involve risks and uncertainties which may give rise to situations in which the actual results differ substantially from the expected ones. The potential reasons for such differences include market fluctuations, the development of world market fluctuations, the development of world market commodity prices, the development of exchange rates or fundamental changes in the economic environment. TUI does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this announcement. * * * ISIN: DE000TUAG000 Category Code: MSCU TIDM: TUI LEI Code: 529900SL2WSPV293B552 OAM Categories: 2.2. Inside information Sequence No.: 52477 EQS News ID: 997715 End of Announcement EQS News Service

  • Would You Buy a 10%-Off Cruise Right Now?
    Bloomberg

    Would You Buy a 10%-Off Cruise Right Now?

    (Bloomberg Opinion) -- In the wake of the coronavirus, enticing people to set a course for adventure on a floating mega-palace will be a difficult proposition.The public image of cruises, which for many older people are still associated with the 1970s American TV series “The Love Boat,” has been tarnished by the pandemic. On Thursday, Carnival Corp. said it would suspend all voyages by its Princess Cruises division, which suffered the only known outbreaks of coronavirus at sea, for 60 days. Cruising divides opinion at the best of times. Fans see it as a fun, hassle-free and cost-effective way to explore several often sun-drenched destinations in one go, particularly when food, drinks and entertainment are thrown in. For others, it conjures up a horror of claustrophobia, seasickness and way too much proximity to other holiday makers. Headlines about passengers stuck on ships turned away from ports for fear there may be a deadly virus on board will only serve to reinforce their aversion.The images of Carnival’s majestic Grand Princess, a behemoth that spent days circling the waters around San Francisco because 21 passengers tested positive for the virus, will be particularly damaging. As will an unprecedented warning from the U.S. State Department not to take cruises because they hold an elevated risk of Covid-19 infection and potentially landing in quarantine on a foreign shore. After all, North America is the world’s biggest cruise market by some distance.It’s hard to see how a $60 billion industry that’s already made such an effort to remake its image as more than a retirement pastime can easily overcome this hit. It still depends in large part on passengers over 50 who may be more likely to think twice getting on board. And before embarking, those over 70 may even be required to present a doctor’s note that they have a clean bill of health, not exactly reassuring for a carefree getaway. But first for the immediate pain. The global pandemic could hurt the cruise industry worse than both the 9/11 terrorist attacks in 2001 and the financial crisis of 2008-2009, according to Brian Egger, an analyst at Bloomberg Intelligence. Even before Carnival’s decision to suspend its 18 Princess vessels, he was estimating that revenue yields, a measure that reflects both pricing and occupancy leverls, could fall by as much as 20% this year.Richard Clarke, an analyst at Bernstein, estimates that most bookings for travel packages are down around 40% across the market. The drop off in cruise demand may be even worse.That’s a worry for the big U.S. operators — Carnival, Royal Caribbean Cruises Ltd. and Norwegian Cruise Line Holdings Ltd. — as well as TUI AG, the German tour operator that’s been developing its ocean-vacation arm to give it an edge against rivals. Carnival’s response is a dramatic one. But more lines could take this option, both to stem losses from operating half-empty vessels and to give them a very deep clean as a way to reassure holidaymakers that they are safe once the pandemic has subsided. On Friday, travel-to-insurance group Saga Plc said it was spending its cruise operations, cutting profit by up to 15 million pounds ($18.9 million).Alternatively, cruise operators could look to continue filling vessels with deep discounts. Analysts at Nomura have estimated that pricing could drop by at least 10% this year. That may encourage enthusiasts to take to the high seas, but at a lower profit. Yet as the pandemic spreads, and people around the world question how far from home they’re willing to travel, it’s unclear just how many takers there will be. And that’s before any official travel restrictions, such as President Donald Trump’s decision to temporarily curtail European travel to the U.S. It’s understandable that shares have tumbled since the coronavirus took hold.To weather the shock, Royal Caribbean and Norwegian have boosted liquidity in recent days. Even so, Royal Caribbean looks to face the most difficult challenges ahead, with net debt reaching 3.7 times Ebitda at the end of this year, according to the Bloomberg consensus of analysts’ estimates. That’s compared to Norwegian at 3.3 times and Carnival at 2.5 times. The industry may recover from the latest shock. After all, demand returned after the Costa Concordia disaster in 2012, when 32 people died after the cruise ship ran aground off the Italian coast. But it may never be the same again.Previous contagious outbreaks had prompted the industry to tighten hygiene standards. It will have to elevate them further given the spotlight on the dangers of thousands of people living in close quarters. Additional steps, such as more stringent screening of guests and staff, could raise expenses. Cruise lines will likely look methodically to ensure they have agreements with all ports on every itinerary so ships with sick passengers can dock. Putting such arrangements in place would take time and involve more cost.With the focus on the heightened risks faced by older travelers, especially those with underlying health conditions, cruise operators will need to intensify efforts to capture younger consumers, with all the associated marketing expense and investment in amenities to attract them. TUI Cruises is already focused on family vacations, while Walt Disney Co. has plans to almost double its fleet to seven ships by 2023. Virgin Voyages, Richard Branson’s over-18s luxury cruise offering, recently took delivery of its first liner, boasting Instagrammable spots, yoga classes and a festival-like lineup of shows, although it has postponed the Scarlet Lady’s maiden voyage.Winning over young adults won’t necessarily be easy. Cruise liners are associated with a list of environmental problems. So while “cruise shaming” hasn’t yet caught on, expect more focus on the industry’s impact on the planet, as well as its role in over-tourism in cities from Barcelona to Venice and Copenhagen.For the time being though, cruise operators’ main focus will be keeping passengers healthy and making sure that any ships that do sail are as full as possible. With ever more alarming headlines, that means more struggles for the Love Boat.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Stock sell-off shows every industry will feel coronavirus cost
    Yahoo Finance UK

    Stock sell-off shows every industry will feel coronavirus cost

    Thursday is arguably the day the impact became tangible, as a slew of UK companies warned coronavirus was hurting their business.

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