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| Tui travel firm warns Boeing grounding to hit earnings | |
| (32 minutes later) | |
| Travel firm Tui has warned that the grounding of Boeing 737 Max planes will cost it €200m (£173m) this year. | Travel firm Tui has warned that the grounding of Boeing 737 Max planes will cost it €200m (£173m) this year. |
| Tui has a fleet of about 150 aircraft, including 15 of the grounded Boeing models. A further eight 737 Max planes are due for delivery by the end of May. | Tui has a fleet of about 150 aircraft, including 15 of the grounded Boeing models. A further eight 737 Max planes are due for delivery by the end of May. |
| The financial hit is due to the cost of aircraft replacements, higher fuel bills and other disruption costs. | The financial hit is due to the cost of aircraft replacements, higher fuel bills and other disruption costs. |
| Tui also warned that if the 737 Max remained grounded by July, it could cost the firm another €100m. | |
| In a statement, Tui said: "The group is utilising spare aircraft of its fleet, extending expiring leases for aircraft that were supposed to be replaced by 737 MAX aircraft, as well as leasing in additional aircraft." | |
| Tui will be using eight older Boeing 737s, plus spare and charter aircraft, to fulfil its obligations to holidaymakers, a Tui spokesman said. | |
| The spokesman declined to say whether Tui would seek compensation from Boeing. |