Europe’s leading tour operation, TUI Travel, has just announced their first half of 2013 sales figures. According to TUI losses of some £346 million were actually less than some expected. The company pointed to strong markets in the UK and in Scandinavian countries as having relieved a unprofitable Winter.
Peter Long
TUI Travel Value Tumbles
TUI Travel accepts CFO resignation amid almost scandalous restating of financials. CEO Peter Long and CFO Paul Bowtell talk, after which Bowtell announces his resignation. A restated financial report reveals a fairly vast accounting error – stocks decline on the news.