German TUI narrows down its losses in Q1
(MENAFN) German tourism and travel giant TUI contracted its losses in the first quarter of 2014, The Peninsula Qatar reported.
TUI said its net loss in the October-December period totaled USD118.5 million, in comparison with USD124.34 million a year before.
Meanwhile, sales in the January-March period increased by 5.4 percent and reached USD4.01 billion.
"TUI delivered a good start to the year, [and] this reflects a significant increase in profitability in hotels and resorts and cruises," chief executive said.
TUI said its net loss in the October-December period totaled USD118.5 million, in comparison with USD124.34 million a year before.
Meanwhile, sales in the January-March period increased by 5.4 percent and reached USD4.01 billion.
"TUI delivered a good start to the year, [and] this reflects a significant increase in profitability in hotels and resorts and cruises," chief executive said.
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