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Tui Group to build new Hapag-Lloyd Cruises ship as overall losses narrow

Economy
Jennifer Morris
9 May 2018

Tui has approved construction of a third Hanseatic-class new build for Hapag-Lloyd Cruises, to be delivered in 2021.

Hapag-Lloyd Formation

In its half-year results the group reported a narrower operating loss of €125 million for the quarter and confirmed a target for full-year Ebita (underlying earnings before interest, tax and amortisation) to rise by at least 10% at constant currencies.

Meanwhile for the period from October 1, 2017 to March 31, 2018, Tui Group increased its turnover by 7.2% to €6.81 billion.

On a constant currency basis, the group posted growth of 8.5% to €6.89 billion.

The seasonal underlying Ebita loss was improved by 26% to €-158.6 million.