TUI Travel PLC Reports Operating Loss for Q1

TUI Travel PLC has reported an operating loss of 109 million pounds on revenues of 2.8 billion pounds for its first fiscal quarter ended Dec. 31, 2011. This compares to an operating loss of 86 million pounds last year on revenues of 2.7 billion pounds.

The larger operating loss was attributed to lower demand for Northern Africa destinations.

TUI, which owns Thomson Cruises, did not break out results for different brands. The company reported that summer bookings were flat year-over-year, while travel bookings industry-wide are down 14 percent, according to TUI.

For its fiscal year 2011, ended Sept. 30, TUI reported profits before taxes of 360 million pounds on operating come of 471 million pounds and revenues of 14.7 billion pounds, compared to profits before taxes of 289 million pounds on operating income of 399 million pounds and revenues of 13.5 billion pounds for 2010.

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