TUI PLC Reports Loss for First Half

TUI Travel PLC has reported a loss (before taxes) of 367 million pounds on revenues of 5.4 billion pounds for the six-month period ended March 31, 2012, compared to a loss of 364 million pounds on revenues of 5.2 billion pounds for the same period last year.

While primarily a tour operator, TUI Travel also operates Thomson Cruises in the UK market.

According to a company statement, there was a slight improvement in the second quarter.

Looking forward to the second half of the year, TUI said the UK and the Nordic markets were showing strong bookings for the summer and that all of its mainstream markets were doing well, except France.

Despite the loss, CEO Peter Long said that he was pleased with the overall performance for the first half, with the UK delivering a strong winter performance that is continuing into the summer season.

Given the challenging economic conditions, however, Long said the company remains cautious, although business continues to be in line with expectations.

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