TT. Tui Travel

Travel operator TUI Travel PLC (TT.LN) Tuesday reported a slightly widened underlying pretax loss and said that notwithstanding disruption around the closure of European airspace in April, it continues to be pleased with trading for Summer 2010.

MAIN FACTS:

-Revenue for year ended March 31 GBP4.93 million (2008: GBP5.38 million)

-Underlying operating loss GBP314,000 (2008: loss GBP289,000)

-Operating loss GBP364 million (2008: loss GBP412,000)

-Underlying pretax loss GBP367,000 (2008: loss GBP333,000)

-Pretax loss GBP419,000 (2008: loss GBP456,000)

-Full operations resumed after 12 days of disruption caused by the airspace closure; estimates impact to be around GBP90 million, which will be separately identified in the third quarter.

-Trading was strong until the disruption caused by the airspace closure in April and cumulative booking volumes remain above the prior year in most source markets;

-Demand has improved again in May, following a slowdown after the disruption.

-Board proposes an interim dividend of 3.2 pence (1H 09: 3.0 pence), an increase of 7%.

-Despite the impact of the disruption, expects positive momentum in the second half of the year

-Excluding the impact from the volcanic ash disruption, remains confident to meet the Board's original expectations for 2010.

-Shares closed Monday at 258.7 pence.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com

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