Topic analysis

Tui cuts profit forecast as effects of Iran war cost travel group €40m

European travel giant Tui has incurred €40 million in costs related to the Iran war, including repatriating nearly 12,000 guests and staff from Middle East destinations and cruise ships, prompting the company to cut its annual profit forecast from €1.41bn to a range of €1.1bn to €1.4bn. The firm reports reduced summer booking revenue and hotel occupancy, increased consumer caution with last-minute bookings, and has suspended revenue guidance until geopolitical conditions stabilise, while noting broader industry impacts like rising jet fuel prices and airline flight cancellations.