Heatwave blamed for Tui losses


Tui has blamed the heatwave in 2018 as an “unusually long and hot summer” along with a weak pound as the company has losses more than doubled in the first quarter.

The holiday giant reported seasonal underlying losses of £73.3m for the three months to 31 December, against losses of £32.2m the year before.

Fritz Joussen, chief executive of Tui, said, “The overall trends for our sector are intact.

“Travel and tourism remain a growth market.

“Customers continue to travel, but they are currently resistant to increases in price.”