Tui has attributed its turnaround during the first quarter of its 2023/24 financial year, in part, to a recovery in currency rates following Liz Truss’s brief – and disastrous – reign as prime minister.
Tui made an underlying profit of €6 million in the last three months of 2023, its first quarter – the first time it has ever recorded a Q1 profit. The figure contrasts with a loss of €153 million in the same period in 2022, which followed Truss’s 44 days in office.
Truss was prime minister in September and October 2022, during which the pound crashed to a 37-year low when markets were spooked by a plan to increase borrowing by £70 billion.
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