TUI Posts Narrower Q1 Loss

TUI AG TUIFY reported a narrower loss for the fiscal first quarter. TUI posted a quarterly net loss of 104.6 million euros ($118.5 million), versus a year-ago loss of EUR109.8 million. Loss per share declined to 0.32 euros versus 0.46 euros. Its revenue climbed 5.4% to EUR3.54 billion, while average selling prices rose 1%. Loss before income taxes narrowed to 211.1 million euros from 228 million euros. The company's adjusted loss before interest, tax and amortization shrank to EUR107.9 million. For the fiscal year ending September, the company expects underlying EBITA growth of 10% to 15%. TUI shares fell 1.56% to close at $8.82 yesterday.