TUI sources capacity as it outlines impact of Max grounding

Tour operator TUI is expecting a €200 million ($225 million) impact on earnings from the Boeing 737 Max grounding, as it puts in place a contingency plan to ensure sufficient summer capacity. The company states that this one-off figure is based on the assumption that 737 Max operations will be restored by mid-July at the latest.But it warns that it will need to extend contingency measures until the end of the summer season if a timeframe for restarting Max services does not become clear within the coming weeks.Such an extension would involve a further €100 million impact on its underlying EBITA, it says.