TUI losses widen thanks to 'greatest crisis' in tourism history

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Travel company TUI posted a deeper first-half loss after it was hit by the Covid-19 crisis and the grounding of Boeing's 787 MAX aircraft.

Net losses for the six months through March amounted to €845.8m, widening from losses of €289.1m.

Revenue eased back 0.6% to €6.64bn, having dropped 10% in the second quarter.

TUI said the disease pandemic was the 'greatest crisis the tourism industry and TUI has ever faced'.

However, it said 'TUI is a resilient business and will be stronger, much leaner and more flexible post Covid-19.'

At 2:53pm: (LON:TUI) Tui AG share price was -3.1p at 261.2p