German tour giant TUI profits from FTI bankrupcy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2024
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Source: reuters
- TUI Expands Offering: TUI, Europe's largest tour operator, increased its available spots by 300,000 for the current season following competitor FTI's bankruptcy.
- FTI Bankruptcy Impact: FTI's bankruptcy led to canceled trips and prompted holidaymakers to opt for last-minute offers from TUI.
- Financial Consequences for FTI: Sinking bookings and financial difficulties forced FTI to file for bankruptcy in early June after a failed buyout attempt and government refusal to rescue the company.
- Market Response: TUI's shares rose by 2% following the announcement of FTI's bankruptcy on June 3.
- Tourist Preferences: German tourists favored destinations like Mallorca, Antalya, Crete, Rhodes, and Kos, with TUI extending its summer season to late November in anticipation of higher bookings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
