Travel company: Tui starts with price increase on the Frankfurt Stock Exchange – Economy
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The shares of the travel group Tui started with a slight increase on the first day of trading with the main listing on the Frankfurt Stock Exchange. The price rose by 1.4 percent to 7.73 euros on Monday morning. The return to the Prime Standard on the largest German stock exchange is an important day for Tui, explained CEO Sebastian Ebel at the traditional ringing of the stock exchange bell on the trading floor in Frankfurt. The Prime Standard is the market segment of the Frankfurt Stock Exchange to which particularly strict transparency requirements apply.
About ten years after moving to the London Stock Exchange, Europe’s largest travel group is returning to Germany with its main listing. In June, Tui could move into the MDax small cap index. That was since 2014 Pursue Due to the merger with the British Tui Travel, it is simultaneously listed on the London stock market, on the Hanover Stock Exchange and on the open market of the Frankfurt Stock Exchange. The majority of stock trading has now moved to Germany, which is why Tui no longer considered a double listing to be sensible. Cost advantages and increased prestige also speak in favor of a main listing on the leading German stock exchange.
On the London Stock Exchange, the stock has mostly been on a downward trend since its peak of 54 pounds in the travel boom year of 2018. In the opinion of Tui management, this does not reflect the good business prospects given the continued high demand for travel. Tui has fully recovered from the Corona crisis, which the group survived thanks to government aid. For the year as a whole, the tour operator expects at least as many customers as before the corona pandemic in 2019, a good 20 million people who vacationed with Tui. Sales are expected to increase by at least ten percent to around 23 billion euros, and the adjusted operating result is expected to increase by at least 25 percent to a good 1.2 billion euros. Ebel explained that he is sure that these goals will be achieved.
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