Tui, the largest travel company in Europe, has reported a €40 million loss due to the ongoing conflict in Iran, which has necessitated the repatriation of nearly 12,000 holidaymakers and staff. The travel operator revealed that it had to bring back 5,000 guests from two cruise ships in Abu Dhabi and Doha, alongside another 5,000 from various destinations in the region, particularly affecting operations in Turkey, Cyprus, and Egypt. In light of these disruptions, Tui has revised its profit forecast for the financial year down from €1.41 billion to a range of €1.1 billion to €1.4 billion. The company noted a 7% decline in booking revenue and hotel occupancy compared to the previous year, although there is a partial shift in demand towards western Mediterranean destinations such as Spain, Portugal, Greece, and Cape Verde. Tui has hedged 83% of its summer jet fuel requirements and 62% for the winter season to combat rising oil prices. Meanwhile, the UK’s Office for National Statistics reported a 4.7% increase in overall transport prices, the fastest annual rate since December 2022, largely attributed to higher airfares stemming from the conflict. Airlines, including Lufthansa, are adjusting operations and lobbying for regulatory changes in response to anticipated fuel shortages and increased costs.