- Travel company TUI racked up a €1.50 billion first-half loss as the pandemic continued hammer the tourism sector.

The massive loss for the six months through March was deeper than a year-on-year loss of €815 million. Revenue slumped 89% to €716.3 million.

'The continued vaccination progress across our key customer markets and destinations, combined with more testing, and comprehensive hygiene measures throughout our eco-system, should enable the safe return to holidays this summer,' TUI said.

It added that it had a pipeline of 2.6 million customers booked for the summer 2021 season.

TUI had a planned capacity of 75% of summer in 2019 for its upcoming peak summer months.

The re-opening portfolio would focused on destinations such as Greece, Balearics and Canaries 'with anticipated good vaccinations rates and low infection rates', it said.

At 8:15am: [LON:TUI] Tui AG share price was 0p at 390.5p

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