Tui reduces operating loss during H1 2013

Tui Travel succeeded in reducing its operating loss by 14% in the first half of 2013. Operating loss reduced by £43m to £274m, with an underlying H1 operating loss of £289m (H1 2012: loss of £317m), which excludes acquisition related expenses, impairment of goodwill and interest and taxation of results of the Group’s joint ventures and associates. Revenue during the period dipped by 1% over last year to earn £5.397bn. The UK & Nordics source markets delivered H1 revenue growth of 5% and 10% respectively. UK underlying operating loss reduced by £22m to £103m2 and Nordics operating profit by £14m