TUI adds flight capacity to guarantee customers’ holidays after 737 MAX grounding

Hanover, 29 March 2019. Following the grounding of the 737 MAX, TUI has made arrangements in order to guarantee customers’ holidays. The Group is utilising spare aircraft of its fleet, extending expiring leases for aircraft that were supposed to be replaced by 737 MAX aircraft, as well as leasing in additional aircraft. TUI’s fleet, which comprises around 150 aircraft, currently includes 15 grounded 737 MAX for the UK, Belgium, the Netherlands and Sweden. A further eight 737 MAX are scheduled for delivery by the end of May 2019.
Considerable uncertainty around when the 737 MAX will return to service
No dates have yet been announced for modifications of the existing aircraft model by the manufacturer, neither for approval of such modifications by the Federal Aviation Administration (FAA) and the European Aviation Safety Agency (EASA). Therefore, TUI has taken precautions along with other airlines, covering the time until mid-July, in order to be prepared for the Easter-, Whitsun- and start of the summer holiday season and to secure holidays for its customers and their families.
Update on guidance for Underlying EBITA1 rebased
Assuming 737 MAX flight resumption latest by mid-July, the Group currently expects to see a one-off impact on underlying EBITA of approx. 200 million euros in connection with the 737 MAX grounding. This impact is especially attributable to costs related to the replacement of aircraft, higher fuel costs, other disruption costs, and the anticipated impact on trading. As a result of this one-off impact, the Executive Board of TUI AG has decided today to update the guidance and now expects an Underlying EBITA1 rebased for FY19 of approx. minus 17% (previously “broadly flat”) compared with FY18 of 1.177 billion euros2.
Should it not become clear within the coming weeks that flying the 737 MAX will resume by mid-July, TUI will need to extend the abovementioned measures until the end of the summer season. The current assumption for this additional one-off impact until 30 September 2019 is up to 100 million euros. For this scenario the Executive Board of TUI AG has also decided today to update the guidance for the Underlying EBITA1 rebased for FY19 to up to minus 26% compared with FY18 of 1.177 billion euros2.
About the TUI Group
TUI Group is the world’s number one integrated tourism group operating in around 180 destinations worldwide. The company is domiciled in Germany. The TUI Group’s share is listed in the FTSE 100 index, the leading index of the London Stock Exchange and in the German open market. In financial year 2017, the TUI Group recorded turnover of €18.5bn and an operating result of €1.121bn. The Group employs 67,000 people in more than 100 countries. TUI offers its more than 20 million customers comprehensive services from a single source. It covers the entire tourism value chain under one roof. This comprises around 380 Group-owned hotels and resorts with premium brands such as RIU and Robinson and a fleet of cruise ships ranging from the MS Europa and MS Europa 2 luxury class vessels to the “Mein Schiff” fleet of TUI Cruises and the vessels of Marella Cruises in the UK. Furthermore, TUI features leading tour operator brands, 1,600 travel agencies in Europe and five European airlines with around 150 modern medium and long-haul aircraft. Global responsibility for sustainable economic, ecological and social activity is a key feature of our corporate culture. TUI Care Foundation supports the positive impacts of tourism. It initiates projects creating opportunities for the next generation and contributing to a positive development of the holiday destinations. Further information is available at www.tuigroup.com.
- 1 Underlying EBITA has been adjusted for gains/losses on disposal of investments, restructuring costs according to IAS 37, ancillary acquisition costs and conditional purchase price payments under purchase price allocations and other expenses for and income from one-off items.
- 2 Rebased in December 2018 to 1.187 billion euros to take into account 40 million euros impact for revaluation of Euro loans balances within Turkish Lira entities in FY18 and further rebased to 1.177 billion euros for retrospective application of IFRS 15.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
- 1) ΕΟΤ China | B2B meetings with Chengdu's t.os - Flights to Athens in June
- 2) Alltours: Familiarization trip to Greece for 250 travel agents
- 3) Tourism: TUI's packages for Greece in Austria are in demand
- 4) TUI Musement | Skiathos, Kefalonia, Larnaca, and Troodos in top-7 destinations for tourists 65+
23/04 19:53
Record participation in the ATHENA International Olive Oil Competition | Chania 8 - 10 May
23/04 16:03
23/04 15:43
Booking.com | No to limiting tourists, yes to infrastructure investments
23/04 14:13
Thessaloniki’s dynamic presence at the World Tourism Summit in Hong Kong
23/04 12:20
23/04 12:17
Cruise | Turkey doubles its share, new opportunities for Greek ports
23/04 07:27
Aid for the upgrade of the tourist shelter of Astakos and the Marina of Alimos
23/04 07:23
Preparing the settlement of Kionia for the tourist season: An example to follow
22/04 19:08
The action of the region of Crete "Let's go for... Greens" concludes this weekend
22/04 15:15
“Art is our Language”: Campaign for the 70th Anniversary of the Athens Epidaurus Festival
22/04 15:02
22/04 14:20
ΕΟΤ China | B2B meetings with Chengdu's t.os - Flights to Athens in June
22/04 12:24
State-of-the-art conference center at Theartemis Palace Hotel in Rethymno
22/04 09:29
Zagori: Collaboration with Impact Hub Athens for sustainable tourism and innovation
22/04 07:55
Cooperation Memorandum between Development Athens and Piraeus University on Tourism
22/04 07:40
Kos: New advertising campaigns with Jet2 and National Geographic Traveller UK
22/04 07:36
22/04 06:48
Imbros Trail Run & Hike 2025: A sporting tribute to the History of Sfakia
22/04 06:44
21/04 20:52
Religious Tourism | The University of Palermo comes to Panagia Nafpaktiotissa
21/04 07:58
Audio Walk in the Sitia Geopark: A Different Exploration Experience in Crete
20/04 07:01
19/04 08:03
Juneyao Airlines: More direct flights from Shanghai to Athens in 2025
18/04 23:44
Alltours: Familiarization trip to Greece for 250 travel agents
18/04 19:45
Nations Cup Beach Volleyball is coming to TUI Magic Life Candia Maris on May 16-18
18/04 16:22
18/04 15:55
Traditional Easter in Naxos: Unique Customs and Local Cuisine
18/04 07:38
Annual revenue of over 43,000 euros for Airbnb in Mykonos and Santorini
17/04 18:16
Destination Management and Promotion Organization established in Heraklion
17/04 12:19
17/04 11:24
17/04 11:12
Athens is the new hotspot in Europe for hotel investments - the 8th most attractive city in 2025
17/04 10:28
Significant increase of over 18% in direct bookings at Greek hotels for Easter
17/04 08:33
Short-term rental: 1.15 million available nights in March in Greece
17/04 07:49
Accor's Handwritten Collection expands to Europe – The first Greek participation
17/04 07:46
Ithaca is ready to welcome its visitors for Easter and the summer season
17/04 07:38
Mirum Hellas: Donation of studies for the Agios Nikolaos Marina
17/04 06:59
CBRE Hotels | Why the value of hotels in Greece will continue to rise
17/04 06:54
Mykonos: Smiles for Easter, optimism for record arrivals in 2025
16/04 23:41
Promotion of Central Macedonia in Poland - direct flights to Thessaloniki begin
16/04 21:19
Hersonissos: 33,000 tourist beds in the “Pay As You Throw” system
16/04 21:07
16/04 16:29
Destination Management and Promotion Organization established in Rethymno
16/04 16:26
PPA | Series of upgrades to the infrastructure of the port of Piraeus
16/04 15:34
Wizz Air: Medical awareness campaign in view of increased Easter travel traffic
16/04 13:38
Expedia | Sports Tourism Accounts for 10% of Global Tourism Spend
16/04 11:59
American Tourism | + 38% travel costs to Europe in 2025 - Shift to more affordable destinations
16/04 11:48
Chania olive oil as a growth driver in the tourism economy of Crete
16/04 11:45
16/04 08:52
CHC Group: The Greek chain that brings Hilton to Elounda and Karpathos
16/04 08:05
The great restoration of the Venetian Wharfs of Chania begins
16/04 07:59
16/04 07:56
Koziakas Mountain Race 2025: The mountain challenge in Koziakas
15/04 17:27
Easter in Syros, Paros, Kimolos, and Alonissos | What the island authorities say to TN
15/04 16:36
Passenger traffic in Q1 | +9.1% at CAA airports, +6.5% in all
15/04 16:30
Investment interest in tourism remains stable internationally in the first quarter
15/04 15:40
Great Britain | Greece and the Greek National Tourist Office at Kuoni Road Show
15/04 15:23
What will our world be like in 2035? - Read what the participants at the Delphi Forum answered
15/04 14:45
Norwegian Cruise Line christens new ship - new attractions on private island
15/04 11:57
Dynamic presence of the Winemakers of Crete at the PROWEIN exhibition
15/04 11:53
Municipality of Sfakia: The Lykos - Marmara route is safer and more accessible again
15/04 08:02
Paros | Optimism for the new season - Bet on extending the season
15/04 07:07
Anopaia Atrapos: A mountain running race with a historical route and an athletic ethos
14/04 21:19
14/04 20:32
14/04 19:36
14/04 14:17
Workshop in Thessaloniki and Athens for cooperation between Greece and Turkey in tourism
14/04 13:39
Increase in visitor numbers and revenues to museums and archaeological sites in 2024
14/04 12:42
14/04 11:52
GNTO | Event for Aegean's new flights from Turkey to five Greek destinations
14/04 11:45
14/04 11:04
Mercan and Wyndham partner for Corfu Acharavi hotel in Corfu
14/04 08:09
March air traffic: Up on last year's March, which had Easter
14/04 07:10
Permits for 8 hotels in Thessaloniki, Crete, Kos, Corfu, Ouranoupoli, and Nafplio
14/04 07:04
13/04 13:15
TUI Musement | Skiathos, Kefalonia, Larnaca, and Troodos in top-7 destinations for tourists 65+
13/04 12:11
Mayor K. Ventouris on TN | Optimism for this year's tourist season in Kimolos
11/04 18:20
A. Fiorentinos at an Expedia event: Santorini is returning to normality
11/04 16:07
G. Hatzis: Trump tariffs could theoretically affect tourism from the US
11/04 12:23
Double international distinction for Paros by American Express Travel and Forbes
11/04 11:43
Crete: Pioneer for resilient tourism in the face of climate change
11/04 11:32
“Philoxenia Travel & Culture”: A Photographic Journey to Authentic Greece
11/04 11:28
11/04 08:51
Participation of the municipality of Erymanthos as a full member in the Network of Cities with Lakes
11/04 08:46
"Two destinations, one purpose": Promoting pilgrimage tourism in Lesvos and Chios
11/04 07:54
11/04 06:11
ForwardKeys | Heraklion and Thessaloniki among the top Easter destinations in Europe
10/04 16:15
N. Chalkiadakis on TN | Arrivals take off at the airport in Kastelli
10/04 12:56
WTTC: Global tourism to soar over the next 10 years - Contribution to $16.5 trillion in 2035
09/04 23:02
Digital tourism promotion for the Holy Shrine of Panagia Kastriani of Kea
09/04 22:08
International award for the Venetian Castle of Fortezza in Rethymno
09/04 19:45
09/04 19:13
Olga Kefalogianni: Authenticity, sustainability, and tourism 12 months a year
09/04 16:19
09/04 13:24
09/04 12:27
Pieria | POTAP - jet2 collaboration to open up the British market
09/04 11:36
09/04 11:31
09/04 08:50
09/04 07:57
"Thematic olive routes” | Crete opens a new page for its visitors
Cruise | Turkey doubles its share, new opportunities for Greek ports
Thessaloniki’s dynamic presence at the World Tourism Summit in Hong Kong
Record participation in the ATHENA International Olive Oil Competition | Chania 8 - 10 May
Aid for the upgrade of the tourist shelter of Astakos and the Marina of Alimos
Preparing the settlement of Kionia for the tourist season: An example to follow
Booking.com | No to limiting tourists, yes to infrastructure investments
The action of the region of Crete "Let's go for... Greens" concludes this weekend
“Art is our Language”: Campaign for the 70th Anniversary of the Athens Epidaurus Festival
ΕΟΤ China | B2B meetings with Chengdu's t.os - Flights to Athens in June
Greek Tourism 2024 | 1 billion euros more revenue from January to November
300,000 Euro Grant to the Rhodes Tourism Promotion Organization for 2025
Kos: New advertising campaigns with Jet2 and National Geographic Traveller UK
Cooperation Memorandum between Development Athens and Piraeus University on Tourism
Hellenic Film Society USA presents Maria by Callas at MoMI in New York
Zagori: Collaboration with Impact Hub Athens for sustainable tourism and innovation
Imbros Trail Run & Hike 2025: A sporting tribute to the History of Sfakia
Religious Tourism | The University of Palermo comes to Panagia Nafpaktiotissa
State-of-the-art conference center at Theartemis Palace Hotel in Rethymno