TUI Travel Posts Q3 Earnings

TUI Travel has reported net income of 25 million pounds on revenues of 3.9 billion pounds for its third quarter ended June 30, 2013, compared to net income of 3 million pounds on revenues of 3.7 billion pounds for the same period last year. Among TUI Travel’s holdings is Thomson Cruises.

In a prepared statement, CEO Peter Long said that vacation bookings from the UK, Nordic and German markets were up 14 percent, 11 percent and 9 percent, respectively, for the summer (2013) season.

Long also stated that he is confident the company will post at least a 10 percent increase in operating income for the full year. He said the company is well positioned to continue to deliver on its five year growth plan.

For the winter season 2013/2014, bookings were up 1 percent year-over-over for the UK and Nordic markets, with average selling prices up 8 percent in the UK and 2 percent in the Nordic markets, and revenues were up 9 percent in the UK and 4 percent in the Nordic markets.

For the UK, 21 percent of the inventory had been sold as of June 30, and 26 percent in the Nordic countries, TUI did not say anything about German bookings for the winter season.

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