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On Friday, the international tourism group TUI announced that its 15 Boeing 737 Max were on the ground. TUI is therefore one of the first companies to offer estimates of the cost of the crisis.
The share falls by nine percent on the London Stock Exchange.
Costs billions
In the profit warning, the company says it expects the aircraft to come into the air no earlier than mid-July and now expects a single effect on operating income before depreciation. (EBITDA) of approximately EUR 200 million.
This corresponds to just over 1.9 billion crowns.
This is mainly due to the fact that the company has to lease aircraft, higher fuel costs and the "expected impact on trade".
TUI, which is listed in London, has therefore decided to downgrade by 17% the forecast for EBITDA in 2019.
If the aircraft Max 8 can not fly from July, TUI must extend the measures already launched. It is thought that this will result in an additional negative € 100 million impact on EBITDA up to September 30th. In this case, the forecast for ebitda in 2019 will be lowered by 26%.
TUI has eight additional 737 Max in order.
Also billions of dollars for Southwest Airlines
US Southwest Airlines announced this week that its profits in the first quarter would be reduced by about $ 150 million ($ 1.3 billion) because of the problems faced by Max.
The company sent its 34 Max devices to the "cemetery" of the Moja Desert in California for undefined storage.(Conditions)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using the link that leads directly to our pages. Copying or other forms of use of all or part of the content may only take place after written authorization or as permitted by law. For other words, see here.
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