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TUI eyes FY EBITA growth

By BFN News | 07:27 AM | Thursday 31 March, 2016

TUI AG said it remains well positioned to deliver underlying EBITA growth of at least 10% in the 2015/16 year. "The group has again demonstrated the flexibility of its business model and the ability to remix destination capacities to match demand and as a result demand and pricing has remained resilient overall," said CEO Friedrich Joussen in a statement. This was despite the impact of geopolitical events. "Our integrated model with our differentiated range of own accommodation content, combined with strong supplier relationships continue to give us a strong competitive position and sustainable earnings growth," Jousson said. "Winter 2015/16 is closing out as expected, with 95% of our Source Market programme sold and increased revenue in all our major Source Markets. "We remain pleased with our Summer 2016 trading performance, with both revenue and bookings ahead of last year. The UK continues to demonstrate a strong bookings performance, up 9% on prior year. Hotels & Resorts are performing well overall, benefitting from increased demand in Spain, the Canaries, and long-haul. "Cruise is delivering continued growth, driven by strong demand for Mein Schiff 5 which is due to be launched this July. Hotelbeds Group continues to deliver TTV growth and the disposal process remains on track. " Story provided by

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