TUI AG Share Price (TUI)

Was there any surprises in the results, my humble opinion not? As investors we knew the MAX 737 would be a dent and now we know the actual cost Euro293m for this year and a budget o Euro220m to Euro293m if continues. Boeing or their insurers surely must have to recompense their customer in some way, so hoping some money will come back to Tui.

One update that makes excellent reading is the performance of bookings for summer 2020: The UK is 25% sold, and at this stage, bookings are up 18% with average selling price up 3%13. With traditional holiday booking season Jan / Feb / Mar to come looks like UK is booking their holiday earlier which can only be good news re controlling capacity for Tui.

When they have between 20-30% losses across the board on the figures it is a flat set of figures, those using it for pensions etc will look at this as a halving of the dividend payment and more risk going forward so there might not be further growth in the share price until next year when they can put a firm cost against the losses of the 737 max aircraft and a firm set of figures looking at the future... it’s a positive spin on what is realistically speaking very poor figures across the board... true value is sadly lower than current share price so it may fall back slowly as a market correction...

The report has one real positive a divi floor and 3.3% yield much better than any banks or gov bonds. The rest of the report reads like ' we should be making loads of cash but we will spend it all on something'. With TCG gone I was frankly expecting much more.

Not a good set of figures and a drop off divi to pre 2016 levels...

Bloodbath incoming for the short term I feel...