TUI yet to assess full impact of Thomas Cook failure
Leisure firm TUI Group has yet to assess the impact of rival Thomas Cook Group's collapse on its own operations, but stresses that it is facing its own external pressures which are likely to continue into the next fiscal year. TUI Group chief Friedrich Joussen says the company is looking to support its customers who have been affected by the collapse of its competitor, offering replacement flights for TUI passengers who had been booked on flights operated by Thomas Cook Airlines. Joussen adds that TUI is examining the short-term impact of Thomas Cook Group's situation as the fiscal year closes. But he states that the "challenging" market environment is "likely to persist" into 2019-20 and that, while its business model is "resilient", TUI needs to focus on becoming more cost-competitive. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-09-25/unaligned/tui-yet-to-assess-full-impact-of-thomas-cook-failure
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TUI yet to assess full impact of Thomas Cook failure
Leisure firm TUI Group has yet to assess the impact of rival Thomas Cook Group's collapse on its own operations, but stresses that it is facing its own external pressures which are likely to continue into the next fiscal year. TUI Group chief Friedrich Joussen says the company is looking to support its customers who have been affected by the collapse of its competitor, offering replacement flights for TUI passengers who had been booked on flights operated by Thomas Cook Airlines. Joussen adds that TUI is examining the short-term impact of Thomas Cook Group's situation as the fiscal year closes. But he states that the "challenging" market environment is "likely to persist" into 2019-20 and that, while its business model is "resilient", TUI needs to focus on becoming more cost-competitive. <br/>
