TUI Group reports 43% drop in third-quarter pre-tax profits

TUI Group, Europe’s largest holiday operator, reported a 43% decline in third-quarter pre-tax profits, falling to €153.4 million. Underlying earnings also dropped by 27% to €233.8 million, while customer numbers decreased by 3% to 9.9 million.

The company attributed the decline to high costs and booking slowdowns driven by geopolitical tensions in the Middle East and the Eastern Mediterranean. These conflicts necessitated repatriation flights for approximately 5,000 guests and caused cruise ships to remain stuck in Gulf ports, resulting in a direct loss of €20 million. Year-to-date losses related to these disruptions and Caribbean hurricanes have reached €81 million.

Despite the quarterly drop, TUI has maintained its adjusted operating profit outlook for 2026, forecasting between €1.1 billion and €1.4 billion. CEO Sebastian Ebel noted that consumer behavior is shifting, with travelers increasingly making last-minute booking decisions due to economic weakness, inflation, and geopolitical uncertainty.