TUI Travel, the tourism conglomerate that includes TUIfly, Thomson Airways, Arkefly, Corsairfly and Jet4you, among others, reported a £24 million ($39.6 million) deficit in its fiscal year ended Sept. 30, a 91% improvement from the £267 million loss suffered in the prior year. CEO Peter Long said the result was a reflection of "the effectiveness with which we have delivered merger synergies" and the fact that "the main summer holiday is an essential expenditure" for customers. TUI ...

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