TUI AG (TUI1.XE), a holding company with assets in tourism and shipping, said Thursday it needs to adjust its financial statement for its short financial year 2009 after its U.K.-listed unit TUI Travel PLC (TT.LN) said an accounting error forced it to write off another GBP88 million in "irrecoverable balances" and restate its earnings for fiscal 2009.

The Hanover, Germany-based company said it has to lower the adjusted earnings before interest, taxes and amortization in its TUI Travel segment by EUR45 million for fiscal 2009.

The short financial year 2009 of TUI AG ran from January to September.

TUI AG noted however TUI Travel's restatement won't affect its cash position or net debt and confirmed its adjusted ebitda for its tourism segment for fiscal 2010. It added it still expect a positive group result in the fiscal 2010.

TUI AG owns 52% of Europe's largest travel operator TUI Travel.

-By Hilde Messer, Dow Jones Newswires; +49 69 29725 506; hilde.messer@dowjones.com

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