TUI to pursue compensation from airports for disruptions caused by travel chaos

TUI Group has revealed an underlying loss before interest and taxes of $43.53 million (€42.5 million) for the period between October 1, 2021, and June 30, 2022, after the recent travel chaos severely impacted the German travel operator’s performance.

The travel and tourism company revealed that it missed earnings forecasts for Q3 2022 due to operational disruptions related to ground staff shortages and travel chaos across the European travel sector. The company booked a $76.77 million ($75 million) charge in its accounts related to the recent interference and said it will pursue compensation from the affected airports, naming Amsterdam Schiphol Airport (AMS) as the largest source of disruption.

“The combination of unparalleled industry ramp-up after the COVID 19-pandemic compounded by a tight labor market has seen the aviation industry confronted with significant operational issues and disruptions, resulting in the increase of delayed departures and flight cancellations,” TUI said in its Q3 Interim financial report published on August 10, 2022.