TUI and Thomas Cook Face Up to Bleak 2019
Photo Credit: A Thomas Cook aircraft with a TUI jet in the background. Both companies are struggling this year. Flickr / Rob Hodgkins
Skift Take
Well, well, well, it's not just Thomas Cook that's struggling. TUI is feeling the pain as well, and given its size and power, it's fair to say the whole European tour operator market is now in a bad way.
Europe’s big two tour operators Thomas Cook and TUI both are both expecting a rough year with the hangover from last year's heatwave still hurting bookings.
In the space of a few hours on Thursday, the two companies both put out separate pieces of news illustrating the challenging conditions they face.
Thomas Cook's struggles are well known but it is now TUI's turn to feel the pain.
In an unscheduled release Wednesday, the German-based company cut its profit guidance for the year. Analysts at Bernstein said it effectively amounted to a 30 percent downgrade for 2019.
Thomas Cook's problems have not gone away. To try and improve its finances it announced in its first-quarter earnings update t
