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Boeing disasters hit Tui earnings

Boeing disasters hit Tui earnings

The grounding of the Boeing 737 Max took a significant chunk out of package holiday company and airline Tui’s (TUI) 2019 cash profits, and the regulatory issues could continue well into next year. Its underlying cash profits for the 12 months to 30 September came down a quarter to €893m (£756m) because the Boeing model was pulled from service. If Boeing doesn’t get the plane back in service by April 2020 and the uncertainty continues to September 2020, Tui said the hit to next year’s cash profits would go from €130m to between €220m and €270m. 

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