TUI suffers early losses

BOOKINGS
for TUI UK are 10.7% down for this summer, according to the company’s first
quarter results. The group suffered from the hit to tourism bookings with a
group net loss of 96 million euros compared to last year’s loss of 83 million
euros. The operating profit of the group’s tourism division fell to 250 million
euros year-on-year, while turnover in TUI Northern Europe, of which the UK is
part, fell by 13.5% for the first-quarter compared to 2002.