Tui Travel scales back directors' pay

Tui Travel scales back directors' pay

Figures have shown that Tui Travel directors were collectively awarded £1.3 million less in the year to September than they received during the previous 12 months.

The company's chief executive Peter Long received nearly £1.62 million - £448,000 less than he did during the previous year, the figures showed.

Deputy chief executive Johan Lundgren, who received £1.04 million, and chief financial officer Will Waggott - who took home £848,000 - were paid almost £370,000 and £267,000 less respectively.

Tui achieved an underlying operating profit of £471 million for the 2010-11 financial year - an 18% increase from the previous year.

Its statutory operating profit was £217 million and profit before tax £144 million, compared with a £73 million loss a year earlier.

The directors' remuneration deals were published in the company's annual report, which reported UK trading figures for this winter and next summer.


Copyright Press Association 2012


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