TUI Travel AG has posted a loss of 36.3 million euro on revenues of more than 4 billion euro for its third quarter ended June 30, 2010. For the nine-month period, TUI reported a loss of 638.4 million euro on revenues of 9.8 billion euro, compared to a loss of 38.1 million euro last year on revenues of 10.7 billion euro.
The cruise division posted revenues of 31.6 million euro in the third quarter, compared to 44.6 million euro last year, for a drop of 29.1 percent. For the nine-month period, cruises generated 132.3 million euro this year, compared to 147.7 million last year. EBTIDA for cruises was 3.1 million euro for the third quarter and 3 million euro for the nine-month period.
TUI Travel’s cruise sector includes Hapag-Lloyd Kreuzfahrten and TUI Cruises. Hapag-Lloyd operated with a load factor of 55 percent in the quarter, compared to 71 percent for the same period last year. The brand posted 56,248 passenger cruise days with average daily rates of 367 euro per passenger. Occupancy was down due to an unscheduled drydocking of the Europa.
TUI Cruises operated with a load factor of 92.7 percent and reported 162,249 passenger days for the quarter, with average daily rates of 166 euro per passenger.
Since TUI Cruises is a 50/50 joint venture with Royal Caribbean Cruises, revenues are not included in TUI Travel’s accounting, only the net contribution to earnings.