TUI warns on profit after 737 MAX grounding\, shares plunge

TUI is feeling the fallout from the grounding of Boeing's 737 MAX aircraft.

And has issued a warning on its profits.

They'll fall this year by at least 200 million euros, it says.

That's around 225 million dollars.

Earnings will be down by 17 to 26 percent.

The tour operator has 15 737 MAX planes - a tenth of its fleet.

The Boeing jetliners were taken out of service following an Ethiopian Airlines disaster that killed 157 people, five months after a Lion Air crash in Indonesia killed 189.

Others have warned too.

On Wednesday, Southwest Airlines became the first major U.S. airline to cut its financial outlook.

United and Air Canada have also spoken of an impact to business - the Canadian carrier suspended its 2019 forecasts.

TUI expects flights to resume by mid-July at the latest.

But its shares, listed in both London and Frankfurt, were down around eight per cent after its statement.