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Tour operator Tui warns on profit after 737 MAX grounding

Published 03/29/2019, 04:23 AM
Updated 03/29/2019, 04:25 AM
© Reuters. Two workers walk under the wing of a 737 Max aircraft at the Boeing factory in Renton

FRANKFURT (Reuters) - Tour operator Tui AG on Friday warned it would take a 200 million euro ($225 million) profit hit in 2019 due to the grounding of Boeing's 737 MAX aircrafts in the wake of two deadly crashes of the model.

© Reuters. Two workers walk under the wing of a 737 Max aircraft at the Boeing factory in Renton

The group said it now expects underlying earnings before interest, tax and amortization (EBITA) to fall by 17 percent, having previously expected it to be flat compared with 2018.

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