According to the quarterly report to travel giant Tui, the Thomas Cook bankruptcy contributed to an increase in bookings of 7.7 percent. So, maybe this bankruptcy was really important for Tui to happen. That sometimes downfalls of one change another for the better.
In the report that the company released, they have seen a clear increase in the number of orders following the Thomas Cook bankruptcy that hurt.
The increase in numbers of orders been affected the most in the United Kingdom, where the number of bookings has increased, and never before in the company’s history have the British people booked more tours with Tui after Thomas Cook bankruptcy.
Tui increased its Capacity in the United Kingdom
Following the bankruptcy of the world’s oldest travel operator, British Thomas Cook, Tui increased capacity and brought in employees from the former rival. Tui managed to do this in a way that was done in a smart way giving Tui stronger arms than ever.
Other companies in the travel business should have followed Tui in how to handle bankruptcies. Many people did a fantastic job for Thomas Cook and they were all saved.
This is a great move by Tui. It shows that they are a dedicated travel company that wants to earn and even give people more destinations to reach with them. Many were worried about skyrocketing prices for British travelers. But Tui didn’t and so they got an increase instead.
The turnover gave 7.7 percent
Turnover was 3.8 billion euros in the financial year 2020. This is an increase of 7.7 percent from the first quarter of the same period last year. This is a number that no one believed in that would happen at all. But Tui news says that the turnover process is a success.
Boeing 737 Max Flight effects
Excluding the effect of the Boeing 737 Max ban and a one-off gain from the previous year, the underlying operating profit improved by 14 percent.
Gross operating profit ended at 189.8 million euro, and at the bottom line. Tui, however, managed to lose 105.5 million euros. So it is a nice work done. Indeed it is. This will increase the deficit from the corresponding period in 2019 when the deficit was 112.1 million euros.
It is scary to know that Boeing 737 Max has been flying at all. Someone earned a lot of people’s deaths that are caused by these airplanes. Just look at all the accidents list for you to understand how important the groundings of Boeing 737 Max Flights are.
Source: Tui – Photo: Tui, Pixabay