TUI Travel 1Q Pretax Loss GBP88.6 Million Vs Loss -2-
25 Marzo 2009 - 8:52AM
Dow Jones News
The net debt position at Dec. 31, 2007 was GBP893 million. The
increase is primarily due to the impact of foreign exchange
translation on the EUR1bn shareholder loan with TUI AG. This loan
is fully hedged using derivative instruments and no economic loss
therefore arises from the translation. The corresponding gain on
the hedge is included in the fair value of derivative financial
instruments, it said.
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