TUI AG (TUI1.XE), a holding company with assets in tourism and shipping, Wednesday confirmed its full year outlook and reported a narrowed net loss for the first quarter of its fiscal year 2011, pointing to higher demand in Europe's travel sector.

The company still expects an increase in adjusted earnings before interest, taxes and amortization, or Ebita, and a positive after-tax profit the year.

In the seasonally low winter period, first quarter net loss narrowed to EUR46.4 million, compared with a EUR104 million net loss in the same period of the previous year.

Sales came in at EUR3.29 billion, a 11% increase on the year. Analysts had expected a lower sales increase and higher losses.

TUI holds a majority stake in U.K-.listed TUI Travel PLC (TT.LN) and around 43.33% in container shipping company Hapag-Lloyd AG.

-By Hilde Messer, Dow Jones Newswires; +49 69 29725 506; hilde.messer@dowjones.com

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