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Tour giant TUI expects bright summer despite higher prices

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TUI Group - Germany's leading tour operator

ABOUT TUI GROUP

The TUI Group is a leading global tourism group and operates worldwide. The Group is headquartered in Germany. TUI shares are listed on the FTSE 250, an index of the London Stock Exchange, on the regulated market of the Lower Saxony Stock Exchange in Hanover and on the Regulated Unofficial Market of the Frankfurt Stock Exchange. The TUI Group offers its 21 million customers integrated services from a single source.

The entire tourism value chain is covered under one roof. This includes more than 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 16 of its own cruise ships, from the MS Europa and the MS Europa 2 in the luxury class and expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in the UK. The Group also includes leading tour operator brands and online marketing platforms across Europe, five airlines with more than 130 modern medium and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels, cruises via successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a digital company.

Global responsibility for sustainable economic, ecological and social action is at the core of our corporate culture. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards with projects in 25 countries. It thus supports holiday destinations in their development. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.

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TUI is something of a bellwether for the European travel industry. The German group is Europe’s largest tourism operator, serving about 28 million customers through its flights, resorts, cruises and more. And if its quarterly earnings release is anything to go by, the summer’s looking bright. 

TUI reported its highest-ever second-quarter revenues of €3.66 billion ($3.96 billion) on Wednesday, up 16% compared to a year earlier. Notably, strong demand for trips and vacations has sent prices soaring, but that’s not stopped people from splurging anyway.

During the three months to Mar. 31, the German giant saw 2.8 million guests flocking to its 400 hotels and 16 cruise ships, which helped boost its earnings. 

For the crucial upcoming summer season, TUI said bookings had hit about 60% of its markets and airline capacity, which it described as “promising.”

“Travelling is very popular with people. We see trends that will further strengthen this in the future: experiences are becoming more important than possessions, and the middle classes are growing in many parts of the world,” said TUI CEO Sebastian Ebel. 

A few challenges remain, Ebel added, such as the Red Sea crisis, but cruises and hotels have been running full since last year, which helped the Hanover, Germany-based company curb its underlying losses in the first three months of 2024 to €189 million ($204.6 million)— an improvement of more than 22%.

“The message delivered was that, even if the group is still loss making, the situation has improved quite significantly,” Deutsche Bank analyst Andre Juillard said in a note Wednesday.

Like most travel and tourism groups, TUI’s financial performance is seasonal, and it is quite normal to report losses in the first half of its year before the summer season gets underway. Last year, TUI’s full-year underlying EBIT was €977.2 million ($1.06 billion), and it has issued guidance that its 2024 full-year result will exceed this by at least 25%.

Boom amid listing move

This earnings release marks TUI’s last before it delists from the London Stock Exchange in June to shift its primary listing to its home country following an overwhelming majority vote from shareholders in February. 

“The advantages of a main listing in Frankfurt are obvious: the structures are simplified, liquidity is centralized and improved in one trading venue and the simplified structure supports the EU requirements for ownership and control of our airlines,” CFO Mathias Kiep said when announcing the decision to move listing bases.

TUI’s move comes as a string of London-listed companies have opted to move elsewhere in Europe—or the U.S.—for better access to capital and less onerous compliance standards. Europe’s largest budget airline, Ryanair, left the LSE in 2021 —its primary listing is now on Dublin’s Euronext—while Cambridge U.K.-based chip company Arm Holdings decided to list in the States last year.    

The German company has been expanding its offerings to appeal to more travelers seeking greater affordability and flexibility. Earlier this year, TUI struck a deal with Ryanair to offer the Dublin-based carrier’s flights through its website. 

“We’re well underway with what we want to achieve this year,” Ebel said during an earnings call. 

It’s a strong position to be in as the peak summer season approaches.

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At TUI Airline, our operations functions steer our decision making, processes, and guide and support many of our airline activities across the Group. We make sure we have the right number of Flight Crew and Cabin Crew and that they are in the right place at the right time. This ensures we operate our aircraft efficiently and our customers always get to start and finish their holiday and flights on time.

Moreover, we are responsible for the customer journey from the moment they arrive at the airport until they leave on a transfer to their destination hotel and the same when they are homeward bound. We achieve this by arranging all necessary ground handling services across our extensive airport network, as well as deciding on the products and services we offer onboard our aircraft. Exceptional efficiency, effectiveness and timeliness are paramount to us – making sure our customers’ holidays start and end in the best way possible.

What can you expect

Our teams are based across many different locations, but all operate as one cohesive team enabling us to deliver the best possible operational performance that translates into great travel experiences for our customers. We are a 24-hour, 365-day operation. In reality, this means we are there for our customers and crew whenever they need us.

In our operational teams you will certainly get variety, routine activities one-minute, to dealing with the unplanned and unexpected in another. As aviation evolves, so do we. We are currently transforming, but are always continually improving, so that our tactical planning, scheduling, use of improved digitalisation are the best available. We’re always looking for better, smarter ways to achieve our goals.

What we are looking for

Our new model means that we act as an internal service provider to TUI Airline so collaboration is key for us as we build strong relationships and partner with colleagues across the Tour Operator, Engineering & Maintenance, Flight Operations and each of our local airline teams as well as across our own operational teams.

We’re looking for people who have a passion for the travel industry and enjoy working at a fast pace and being at the forefront of our operation as well as always looking for ways to improve what we do. Due to the operational nature, some of our teams work 24 hours a day, 365 days a year on a rostered basis so flexibility is key to ensuring we are always there for our customers and our Flight Crew and Cabin Crew.

Airlines are highly regulated so, while it is not essential in some roles, we are always on the lookout for people who have worked either in an airline or in similarly regulated environment and can bring that experience to us.

EXPLORE OUR AIRLINE OPPORTUNITIES

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TUI Integrates Conservation Efforts Into Tours and Experiences

Jesse Chase-Lubitz , Skift

May 16th, 2024 at 1:46 PM EDT

A new program is incorporating tours and experiences from TUI Musement into the Foundation's charity efforts.

Jesse Chase-Lubitz

TUI Care Foundation, a charity linked to the European tourism giant TUI, announced a marine conservation program on Thursday in the Dominican Republic. 

The foundation is independent of the parent company, TUI Group. Still, the new program is incorporating the company’s tours and experiences into the conservation efforts.

The program echoes other so-called “stewardship activities” in areas where heavy tourism traffic and ecosystem vulnerability overlap. In the Great Barrier Reef , travel operators and local conservation organizations are using tourism to help mitigate the damage caused by global warming.

This new TUI program has a similar design: harnessing tours and experiences to bolster conservation efforts.

Dominican Republic program

In the Dominican Republic, the TUI Care Foundation is incorporating coral health awareness and restoration activities into a snorkeling experience offered by TUI Musement, the tours and experiences arm of the company. 

The experience launched in January and has already hosted 27,500 people. 

The program will protect 560 hectares of seascapes and 70,000 square meters of corals will be restored, according to the project manager, Manuel Ferreira. It will also train 200 beach workers and fishermen in marine conservation.

The relocation itself is managed by marine biologists and results are measured by a local non-profit, Los Arrecifes de Bávaro Ecological Foundation. 

While scientists say coral relocation can be effective , it often depends on how the coral is moved and whether it is moved to a hospitable environment. It can be especially hit or miss when transplanting corals to otherwise empty landscapes. 

Coral reefs in the Caribbean are already extremely vulnerable, with two large reefs in particularly bad shape after high ocean temperatures hit in February.

Previous efforts

The TUI Foundation launched a similar program in 2021 in Bali to plant almost 300 square meters of coral in the ocean. This effort is now in its second phase and almost eight times as much coral will be planted. 

This second phase, which will include options for tourists to plant coral, will also include a floating pontoon with workshops for people who prefer not to dive.

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Tags: climate change , dominican republic , tours and activities , Travel Experiences , tui

Photo credit: TUI Foundation is introducing coral conservation efforts. Pixabay

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TUI WORKWIDE

As one of the world's leading tourism groups, TUI believes that our work should reflect the fun, excitement and adventure of travel.

Making travel experiences special

For more than 19 million customers TUI Group offers all services under one roof with leading tour operator brands, 1,200 travel agencies, online portals, airlines and incoming services.

Take off with TUI

Five TUI-owned touristic airlines with a fleet of over 130 aircraft – including the latest Dreamliner – convey our guests to their holiday destinations.

Number one leisure hotelier in Europe

TUI Group has more than 400 hotels, resorts and clubs with well-known brands such as RIU and Robinson in more than 35 countries worldwide.

Riding the waves

Seaborne holidays are provided by our 16 cruise liners, ranging from MS Europa and MS Europa 2 in the luxury class to the Mein Schiff fleet operated by TUI Cruises.

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SPREADING HAPPINESS

Our employees in over 100 countries are dedicated to helping our customers experience the best days in the year and contribute to our brand promise “Live Happy”.

"In my work I am investigating the different types of mosquitoes: What species are there on the Balearic Islands, what pathogens do they carry, what do they feed on?", explains the entomologist Carlos Barceló.

Boat moorings and improper anchoring practices damage coral reefs and seagrass beds, contributing to the destruction of important habitats.

The TUI Group has started the new financial year with a strong operating performance. 3.5 million guests travelled on vacation with TUI in Q1 2024 (October to December 2023), driving a 15 percent increase in Group revenue to 4.3 billion euros (Q1 2023: 3.8 billion euros).

TUI Group is the new Tours & Activities partner for Ya Vas, the online travel agency of Volaris, one of Mexico’s largest airlines, providing millions of customers with flights to North and Central America.

TUI Sea the Change Balearics project restores shallow water bays, improves the sustainability of local fisheries and strengthens local marine organisations

TUI Group organised a Policy Breakfast about these important topics on 16 April 2024 in Brussels. Besides debating the elections and current trends shaping European politics, the event also focused on what can be expected for the new EU mandate.

Isabel Guarch is a Mallorca-born jewellery designer whose collections are entirely inspired by the island. She decided to take the capital's architecture as a model for her designs.

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At TUI, we are committed to respecting the law and acting with integrity. We expect the same from our business partners and suppliers. If you are aware of potential violations of laws and policies related to TUI or caused by a TUI supplier, we strongly encourage you to use our reporting channel . 

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TUI opens new travel agent in Bishop Auckland at new retail park

TUI has opened a new travel agent in Bishop Auckland - with ‘hundreds’ of holidaymakers already booking getaways.

The airline and tour operator has opened its store in the County Durham town at the new retail park.

It comes as the holiday giant revealed better than expected results and record revenues this week, and said travelling remains “very popular” despite rising prices for trips abroad.

Nationally Tui said it was seeing “high demand” for package holidays in particular, but the firm said its average prices were about four per cent higher for the summer season than a year ago.

The group’s summer programme is 60 per cent sold, with nine million bookings for the upcoming peak season, up five per cent year-on-year.

And in Bishop Auckland bosses at the new store said hundreds of travellers have already booked, with cruises proving popular.

The retail manager at the new store said: “We were all extremely excited to officially open the doors to customers this week, the atmosphere has been incredible.

“In the first day of opening, we welcomed hundreds of customers in and booked dream destinations for many travellers.

"The feedback we have had about the store has been fantastic with many customers being delighted to have us on the high street, with many saying they feel like they are on holiday the moment they walk in.

“Marella cruises have been the front-runner in popularity so far with European destinations such as Spain and Greece not being far behind.”

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The group reported pre-tax losses of 403.1 million euro (£346.6 million) for the six months to March 31, against 648.8 million euro (£557.9 million) a year earlier, but revenues jumped 15.2 per cent to eight billion euro (£6.9 billion) in the first half.

Holiday firms traditionally post losses over the quieter winter months.

The new store is open daily and adds to the company’s portfolio of 326 other branches nationwide.

It is the latest addition at the new retail park and joins the likes of Greggs and Popeyes.

Brands including Home Bargains and Pure Gym will open there in the coming weeks.

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Out of the Centre

Savvino-storozhevsky monastery and museum.

Zvenigorod's most famous sight is the Savvino-Storozhevsky Monastery, which was founded in 1398 by the monk Savva from the Troitse-Sergieva Lavra, at the invitation and with the support of Prince Yury Dmitrievich of Zvenigorod. Savva was later canonised as St Sabbas (Savva) of Storozhev. The monastery late flourished under the reign of Tsar Alexis, who chose the monastery as his family church and often went on pilgrimage there and made lots of donations to it. Most of the monastery’s buildings date from this time. The monastery is heavily fortified with thick walls and six towers, the most impressive of which is the Krasny Tower which also serves as the eastern entrance. The monastery was closed in 1918 and only reopened in 1995. In 1998 Patriarch Alexius II took part in a service to return the relics of St Sabbas to the monastery. Today the monastery has the status of a stauropegic monastery, which is second in status to a lavra. In addition to being a working monastery, it also holds the Zvenigorod Historical, Architectural and Art Museum.

Belfry and Neighbouring Churches

Located near the main entrance is the monastery's belfry which is perhaps the calling card of the monastery due to its uniqueness. It was built in the 1650s and the St Sergius of Radonezh’s Church was opened on the middle tier in the mid-17th century, although it was originally dedicated to the Trinity. The belfry's 35-tonne Great Bladgovestny Bell fell in 1941 and was only restored and returned in 2003. Attached to the belfry is a large refectory and the Transfiguration Church, both of which were built on the orders of Tsar Alexis in the 1650s.  

To the left of the belfry is another, smaller, refectory which is attached to the Trinity Gate-Church, which was also constructed in the 1650s on the orders of Tsar Alexis who made it his own family church. The church is elaborately decorated with colourful trims and underneath the archway is a beautiful 19th century fresco.

Nativity of Virgin Mary Cathedral

The Nativity of Virgin Mary Cathedral is the oldest building in the monastery and among the oldest buildings in the Moscow Region. It was built between 1404 and 1405 during the lifetime of St Sabbas and using the funds of Prince Yury of Zvenigorod. The white-stone cathedral is a standard four-pillar design with a single golden dome. After the death of St Sabbas he was interred in the cathedral and a new altar dedicated to him was added.

Under the reign of Tsar Alexis the cathedral was decorated with frescoes by Stepan Ryazanets, some of which remain today. Tsar Alexis also presented the cathedral with a five-tier iconostasis, the top row of icons have been preserved.

Tsaritsa's Chambers

The Nativity of Virgin Mary Cathedral is located between the Tsaritsa's Chambers of the left and the Palace of Tsar Alexis on the right. The Tsaritsa's Chambers were built in the mid-17th century for the wife of Tsar Alexey - Tsaritsa Maria Ilinichna Miloskavskaya. The design of the building is influenced by the ancient Russian architectural style. Is prettier than the Tsar's chambers opposite, being red in colour with elaborately decorated window frames and entrance.

At present the Tsaritsa's Chambers houses the Zvenigorod Historical, Architectural and Art Museum. Among its displays is an accurate recreation of the interior of a noble lady's chambers including furniture, decorations and a decorated tiled oven, and an exhibition on the history of Zvenigorod and the monastery.

Palace of Tsar Alexis

The Palace of Tsar Alexis was built in the 1650s and is now one of the best surviving examples of non-religious architecture of that era. It was built especially for Tsar Alexis who often visited the monastery on religious pilgrimages. Its most striking feature is its pretty row of nine chimney spouts which resemble towers.

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The Unique Burial of a Child of Early Scythian Time at the Cemetery of Saryg-Bulun (Tuva)

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Pages:  379-406

In 1988, the Tuvan Archaeological Expedition (led by M. E. Kilunovskaya and V. A. Semenov) discovered a unique burial of the early Iron Age at Saryg-Bulun in Central Tuva. There are two burial mounds of the Aldy-Bel culture dated by 7th century BC. Within the barrows, which adjoined one another, forming a figure-of-eight, there were discovered 7 burials, from which a representative collection of artifacts was recovered. Burial 5 was the most unique, it was found in a coffin made of a larch trunk, with a tightly closed lid. Due to the preservative properties of larch and lack of air access, the coffin contained a well-preserved mummy of a child with an accompanying set of grave goods. The interred individual retained the skin on his face and had a leather headdress painted with red pigment and a coat, sewn from jerboa fur. The coat was belted with a leather belt with bronze ornaments and buckles. Besides that, a leather quiver with arrows with the shafts decorated with painted ornaments, fully preserved battle pick and a bow were buried in the coffin. Unexpectedly, the full-genomic analysis, showed that the individual was female. This fact opens a new aspect in the study of the social history of the Scythian society and perhaps brings us back to the myth of the Amazons, discussed by Herodotus. Of course, this discovery is unique in its preservation for the Scythian culture of Tuva and requires careful study and conservation.

Keywords: Tuva, Early Iron Age, early Scythian period, Aldy-Bel culture, barrow, burial in the coffin, mummy, full genome sequencing, aDNA

Information about authors: Marina Kilunovskaya (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Vladimir Semenov (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Varvara Busova  (Moscow, Russian Federation).  (Saint Petersburg, Russian Federation). Institute for the History of Material Culture of the Russian Academy of Sciences.  Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail:  [email protected] Kharis Mustafin  (Moscow, Russian Federation). Candidate of Technical Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Irina Alborova  (Moscow, Russian Federation). Candidate of Biological Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Alina Matzvai  (Moscow, Russian Federation). Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected]

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