Tour operator Tui warns on profit after 737 MAX grounding

March 29, 2019

FRANKFURT (Reuters) – Tour operator Tui AG on Friday warned it would take a 200 million euro ($225 million) profit hit in 2019 due to the grounding of Boeing’s 737 MAX aircrafts in the wake of two deadly crashes of the model.

The group said it now expects underlying earnings before interest, tax and amortization (EBITA) to fall by 17 percent, having previously expected it to be flat compared with 2018.

(Reporting by Christoph Steitz; editing by Thomas Seythal)

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