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Travel company TUI booked a first-quarter loss as the grounding of Boeing's 737 MAX aircraft continued to weigh during what is a traditionally quieter seasonal period for the European tourism sector.
Net losses for the three months through December amounted to €105.5m, compared to losses of €112.1m on-year.
Revenue rose 7.7% to €3.85bn, while underlying earnings before interest and tax losses widened to €146.9m, from a loss of €83.1m.
TUI said it saw improved booking trends for its winter programme, driving a good underlying result in its markets and airlines business.
Excluding the effects of the 737 Max grounding, and the non-repeat of a hedging gain from prior year, underlying EBIT for markets and airlines improved 14% on-year.
Holiday experiences, however, recorded a weaker result, with improved occupancy and average revenues at hotels and resorts offset by a higher cost base and FX losses from the devaluation of Turkish Lira.
Additionally there were higher fuel costs for the company's cruise business and accelerated investments in its new digital platform.
TUI said it was now expecting a high single-digit percentage turnover growth for the full year, up from previous guidance of mid-to-high single-digit percentage growth.
The company also updated its underlying EBIT guidance for the year to a range of around €850m-to-€1.05bn.