TUI Travel PLC (TT.LN) Wednesday said it nearly halved its operating loss for the first-quarter compared with a year earlier, and said that demand in recent weeks had strengthened.

"Pricing is strong...while consumer demand continues to improve despite the economic conditions," Chief Executive Peter Long said.

"We have continued to experience greater demand for non-euro destinations and all-inclusive holidays," he said.

The operating loss for the first quarter, excluding amortization, goodwill impairment and taxation, was GBP34.9 million compared with an operating loss of GBP63.3 million last year.

Europe's largest travel operator said revenue for the quarter was GBP2.74 billion, up 9% compared with GBP2.52 billion last year. The company said departed load factors, which measure how many seats on planes are occupied, are in line or ahead of last year.

TUI Travel last week said it was in strategic partnership talks with Air Berlin PLC (AB1.XE) relating to its own German budget carrier, TUIfly, that could involve each company taking a 20% stake in the other.

On Wednesday, TUI Travel said discussions with Air Berlin are "progressing well and are now at an advanced stage."

Since the start of the year, TUI Travel's shares have risen 1.3%, closing Tuesday at 236.5 pence.

 
   Company Web site: www.tuitravelplc.com 
 
   -By Kaveri Niththyananthan, Dow Jones Newswires; 4420 7842 9299; kaveri.niththyananthan@dowjones.com
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