Tui in £260m hit over Boeing planes

Travel operator Tui has warned of a potential €300 million (£258.7 million) hit from the grounding of Boeing 737 Max planes.

The figure is attributed to costs for replacement aircraft, higher fuel charges and disruption following the global grounding of the planes after the Ethiopian Airlines crash that killed 157 people.

If the disruption lasts until July, the firm is pencilling in a €200 million (£172.5 million) hit. The firm said it has made arrangements to “guarantee customers’ holidays”.