TUI AG said its normalized net income for the fiscal second quarter ended March 31 came to a loss of 27 euro cents per share, compared with a loss of 36 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €158.0 million, compared with a loss of €208.5 million in the year-earlier period.

The normalized profit margin climbed to negative 5.1% from negative 7.1% in the year-earlier period.

Total revenue grew 5.4% year over year to €3.10 billion from €2.94 billion, and total operating expenses climbed 7.6% on an annual basis to €3.37 billion from €3.13 billion.

Reported net income totaled a loss of €190.8 million, or a loss of 32 cents per share, compared with a loss of €242.7 million, or a loss of 42 cents per share, in the prior-year period.