Home Business NewsBusinessAviation Grounding Boeing 737 could cost Tui €400m in 2020

Grounding Boeing 737 could cost Tui €400m in 2020

by LLB Reporter
11th Dec 19 1:32 pm

The worlds largest tour operator has said the grounding of the Boeing 737 Max aircraft could end up costing TUI up to €400m if they are still grounded by April 2020.

Should the Boeing 737 Max aircraft still be grounded by February 2020 the tour operator will not have time to get their fleet ready for the summer season which starts in April.

To date Tui has already lost €293m in 2019 from the global grounding of the aircraft and profits have fallen by 24.5% in the year ending 30 September to €893m. Revenue missed analysts expectation of €19.4bn, as revenue grew by 2.5% to €18.9bn

Tui has put the loss of profits in part to the grounding and Brexit uncertainty which has hit sales in holiday bookings.

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