Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
TUI plane
TUI plane - Credit: portosabbia / DepositPhotos - License: DepositPhotos
Business
TUI
Coronavirus
Covid-19
layoffs
travel industry
tourism
loss
Wednesday, 13 May 2020 - 17:50
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

TUI cuts 8,000 jobs after horrific first quarter, €740 million loss

Travel company TUI was hard hit by the coronavirus crisis in the first quarter of this year, and as a result has to cut its workforce considerably. A total of 8 thousand jobs will be lost worldwide, TUI announced with its quarterly figures on Wednesday, RTL Nieuws reports.

TUI sales decreased by 10 percent in the first quarter, compared to the same quarter last year, to 2.7 billion euros. Profits decreased by 318 percent. The travel company suffered a net loss of 740 million euros, compared to a loss of 177 million euros a year ago.

The travel company hopes that the rest of the year will be better, and that travel within Europe will soon be possible again. TUI is ready to take all the necessary hygiene and safety measures, the company said. But so far 65 percent of all trips in the summer season have been canceled, according to RTL.

"The season starts later, but can also last longer," CEO Frits Joussen said.

Follow us:

Latest stories

  • CEO: Air France-KLM takes planet health very seriously
  • Cable car over Amsterdam IJ River could depart from Westerpark area metro station
  • Rotterdam's public transport company RET facing serious financial trouble
  • Lifeguards warn water still too cold for long swims despite rising temperatures
  • Dutch central bank leader Knot concerned after employees win substantial wage increases
  • PM Rutte acknowledges making mistakes with Groningen gas extraction

Top stories

  • Investigators find €80 million in cocaine at Dutch ports
  • Appeal denied: Joran van der Sloot temporarily extradited to U.S. tomorrow
  • Amsterdam to ban polluting traffic in large parts of the city from 2025
  • Hundreds of young Dutch people at risk of forced marriage during summer holiday
  • Dutch PM says blowing up Ukraine’s dam is a war crime
  • Grants will definitely replace student loan system this year; Applications start soon

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content