Pale Fire took 3.00 percent of TUI. TUI stock sits 29.71 percent below its high

Published on 10/23/2026 at 10:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TUI narrowed EBIT guidance to EUR 1.20-1.30 billion on September 22, 2026. TUI stock costs EUR 6.72, 0.88 percent below its Xetra close.

Investor reference points

Pale Fire Capital disclosed 3.00 percent of TUI's voting rights on October 8, 2026.
TUI set adjusted EBIT guidance at EUR 1.20-1.30 billion on September 22, 2026.
TUI stock trades at EUR 6.72 at 10:39 a.m. CEST at Lang & Schwarz on October 23, 2026, 0.88 percent below the Xetra close of October 22, 2026.

Makroaufnahme von feinem Sand mit Wassertropfen und Muschel am Strand — TUI AG (DE000TUAG505) Makroaufnahme zeigt feinen weißen Sand mit Wassertropfen und einer Muschel am Strand, Illustration mit AI erstellt.

TUI (ISIN DE000TUAG505) stock was at EUR 6.72 at Lang & Schwarz on October 23, 2026 at 10:39 a.m. CEST, down 0.88 percent versus the Xetra close of October 22, 2026. The latest corporate signal was a 3.00 percent voting-rights position disclosed by Pale Fire Capital on October 8, 2026, according to TUI Group.

Three events shape the picture

On September 22, 2026, TUI narrowed its adjusted EBIT guidance for fiscal year 2025/26 to EUR 1.20 billion to EUR 1.30 billion, from an earlier range of EUR 1.10 billion to EUR 1.40 billion. The company also said booked summer revenue in Markets + Airline was 5.00 percent below the prior-year level, as reported by Dapd.

On September 29, 2026, Pale Fire Capital crossed the 3.00 percent threshold, reaching 3.0046 percent of voting rights. On October 8, 2026, TUI disclosed the position through its regulatory announcement, with 15,246,387 voting rights attributed to the investor.

What does the outlook mean for margins?

The narrowed range puts the midpoint of expected adjusted EBIT at EUR 1.25 billion. That is below the EUR 1.41 billion reported for fiscal year 2024/25, making booking conversion and operating costs the key evidence for the next results release. The summer booking figure also shows the pressure is concentrated in Markets + Airline, while higher hotel and cruise rates provide a counterweight.

Analyst target remains higher

On October 1, 2026, Barclays reduced its price target from EUR 9.75 to EUR 8.75 while retaining an Overweight rating, according to MarketScreener. At the Lang & Schwarz price, the target is 30.21 percent above the reference price. The target therefore leaves room for improvement, but the lower guidance range remains the more immediate operating constraint.

Next reporting date

TUI is scheduled to publish its fiscal 2025/26 results on December 9, 2026, according to Dapd. That release should show whether the revised EBIT range was achieved and how the weaker booked summer revenue affected the full-year outcome.

Stock stays below its yearly high

TUI stock was 29.71 percent below its 52-week high of EUR 9.56 and above its 52-week low of EUR 6.08 as of October 23, 2026. The market is therefore pricing the current guidance against a wide annual range rather than a new trading high.

The stock was trading at EUR 6.72 at Lang & Schwarz on October 23, 2026 at 10:39 a.m. CEST, 0.88 percent below the Xetra close of October 22, 2026 at EUR 6.78. The further course of trading is shown by the continuously updated real-time quote of TUI stock.