The cruise operations of TUI AG, the German travel to shipping group, have staged a strong recovery in the second quarter of the group’s financial year.
Revenues from cruise operations that include a 50% stake in TUI Cruises, the Hamburg based premium market operator, and 100% of Hapag-Lloyd Kreuzfahrten, the destinational to luxury market operator, rose to €94.1 million from €69.1 million in the same period a year earlier.
EBITA turned positive by €5.1 million compared to negative by €44.8 million in the corresponding period a year earlier. Unlike in the past, TUI AG did not provide closer details about the performance of its two brands.
“Following two dry-dock periods of the cruise vessel Europa, which impacted earnings, and a decrease in load factors, Hapag-Lloyd Kreuzfahrten is again focusing on delivering consolidation in the luxury segment. In the completed quarter it managed to increase turnover, the average rate per day and passenger and the number of passenger days,” TUI AG said.
Thomson Cruises, which operates five ships on the British market, is part of TUI travel plc, a London based company that is listed there. TUI AG is its biggest shareholder.