TUI AG lifts forecast for Container Shipping

6 July 2010

Due to a notable recovery in global container shipping, TUI AG expects its 43.33% stake in Hapag-Lloyd to generate higher profit contributions than initially forecasted. Since the presentation of the half-year report in mid-May 2010, the positive trend shown by Hapag-Lloyd has strengthened.

Transport volumes and in particular freight rates have continually improved over recent months and are considerably up year-on-year. The Executive Board of TUI AG therefore now expects Hapag-Lloyd to post significantly positive operating earnings (underlying EBITA).

Against this background, the result from Container Shipping, measured at equity and included in TUI AG’s Group result, is therefore expected to be clearly positive.

Prospects for core business Tourism remain unchanged. TUI AG will present further details concerning the development of business operations when publishing its interim report for the third quarter on 11 August 2010.

TUI AG, press release