May 9, 2018 / 5:09 AM / 19 days ago

TUI confirms FY profit target, approves new ship for Hapag-Lloyd Cruises

BERLIN, May 9 (Reuters) - Europe’s largest travel and tourism group TUI Group said it had approved construction of another cruise ship for its Hapag-Lloyd cruise business and that summer trading was good as it reported second quarter results.

The group reported a narrower operating loss of 125 million euros ($148 million) for the quarter, which is traditionally loss-making, and confirmed a target for full-year underlying earnings before interest, tax and amortisation (EBITA) to rise by at least 10 percent at constant currencies.

“Trading for Summer 2018 is very good and fully matches our expectations. Demand for Spain remains strong,” it said in a statement on Wednesday. ($1 = 0.8438 euros) (Reporting by Victoria Bryan Editing by Maria Sheahan)

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