After talking with the company, DB said it has lowered its estimate for Q4’21 business levels and trimmed future years.
TUI guided to Q4 capacity at around 60% of pre-crisis levels, against the 70-75% indicated a quarter earlier, highlighting a slower recovery and the uncertainty brought about by the Delta variant.
Revenues for the year are expected to be EUR5.2bn, against EUR8.7bn earlier, implying a drop in the fourth quarter of 49% relative to pre-crisis – similar to TUI indicating volumes down 56% and price up 6%.
Underlying losses for 2021 are now forecast at EUR2.05bn, against EUR1,44bn implying a fourth-quarter deficit of EUR70mln.
Shares eased 1.4% to 302.3p.