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TUI narrows losses as tourists book later to swerve Iran war impact
(Sharecast News) - Travel giant TUI on Wednesday reported a narrower operating second-quarter loss and said customers were waiting until the last minute to book summer breaks due to the Iran war. Operating losses came in at €188m for the three months to March 31, down 9% year on year but better than forecasts of a €194m loss. The company also booked a €40m hit from the conflict that forced it to cancel flights and re-route ships.
TUI said it continues to see strong demand in its holiday-experiences business in the second half of fiscal 2026, but that the last-minute booking behaviour in its markets and airline segment continues.
The company reiterated the full-year outlook that it revised only last month - including the suspension of revenue guidance for revenue and a cut in profit estimates due to uncertainty caused by the US-Israel attacks on Iran and Lebanon.
"Bookings are impacted by the Iran war, which has led to a shift in demand from Eastern to Western Mediterranean destinations, with customers demonstrating increased caution and booking closer to departure dates," TUI said.
The company confirmed its April outlook of an adjusted operating profit of €1.1bn - €1.4bn for 2026.
Reporting by Frank Prenesti for Sharecast.com
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