TUI boss blames losses on Middle East unrest
Europe's biggest travel operator TUI Travel has made a pre-tax loss of £364m in the first half of the year.
TUI, Europe's biggest travel operator, runs over 200 different travel agencies, tour operators and even airlines across Europe - including First Choice and LateRooms.com.
Its results follow on from rival Thomas Cook, which reported losses of £166m on Monday.
Peter Long, chief executive of TUI, blamed the bulk of the losses on the unrest in the Middle East, but was confident that the group would make up for the losses over the busier summer period.