TUI Group has reduced its first-quarter loss due to strong performances by its hotels, resorts and cruise businesses. The loss on underlying earnings fell to €120m from €141.1m the prior year quarter. Revenue rose 5.4% to €3.5bn. The company’s travel unit, which includes its airlines, made an operating loss that was flat at €110m at constant currency rates over the quarter, though revenue rose by 6.4% to €3.4bn. The company will reveal more details on the merger of its five airlines, as reported here last week. TUI Group says it is on course to deliver underlying operating profit growth of
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