Tui's shares fell after the German tour operator announced that summer bookings had slowed, while its net loss increased in the second quarter of the company's financial year, writes Dow Jones.

During European morning trading, the stock fell by around 10 percent. 

Tui said summer bookings were 1 percent below the previous year's level, a slowdown compared to the 2 percent increase reported in February and the 7 percent rise presented in December.

Tui stated that summer bookings were negatively affected by Easter falling in April this year, which led to later booking behavior among customers.

The company reiterated its forecast despite the net loss for the three-month period to March 31 widening to 306 million euros, from 294 million euros a year earlier. 

Tui's forecast is that revenue is expected to increase by 5–10 percent compared to the previous year and that the underlying operating profit (EBIT) will increase by 7–10 percent.

Source: Dagens Industri