TUI says robust business outweighs 737 MAX grounding, upholds outlook

European travel and tourism operator TUI said on Tuesday that robust business outweighed problems with the grounding of Boeing's 737 MAX jets in its third quarter and it upheld its earnings outlook for the full year. TUI stuck to its guidance for underlying earnings before interest, taxes, and amortisation (EBITA) to fall by up to 26% from last year when it was 1.177 billion euros ($1.32 billion). TUI Chief Executive Fritz Joussen cited efficiency drives and cost reductions, but noted uncertainty around Brexit, aviation overcapacity to Spain and delayed bookings in the summer.

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