Travel-and-tourism giant Tui reported a €1.5 billion ($1.8 billion) loss in the six months to the end of March, as the continuation of travel restrictions due to the COVID-19 pandemic left airplanes on the ground and hotel rooms empty.
Shares in the German group, which operates hotels, airlines, cruise ships, travel agents, and is a constituent of London’s midcap FTSE 250
index, fell 3%.
posted revenue of €716 million in the first half of its fiscal year, a 89% decline from the same period in the year prior. Tui’s liquidity as of May 7 was