Tui says Iran war cost operator £35m in March

• Holiday giant Tui reported a financial blow of approximately €40 million (£34.8 million) in March, directly attributed to the conflict in the Middle East.
• This cost was primarily due to the repatriation of around 5,000 passengers from two cruise ships near Abu Dhabi, with their itineraries now cancelled until mid-May.
• Tui also repatriated another 5,000 European customers from affected destinations such as Cyprus, Turkey, and Egypt, along with 1,500 staff members.
• As a result of the unrest and associated costs, Tui has cut its full-year profit forecast, causing its shares to fall.
• The geopolitical situation has led to increased jet fuel prices, a shift in customer demand towards Western Mediterranean destinations, and more last-minute bookings, impacting summer revenues and hotel occupancy.