TUI says strong holiday demand helps to offset MAX grounding cost

LONDON (Reuters) - European travel company TUI said strong demand for holidays would help offset the impact of the grounding of the Boeing 737 MAX aircraft on its annual profit, enabling it to lift the bottom end of annual earnings guidance. TUI is benefiting from the failure of rival travel company Thomas Cook last September, helping it to pick up new customers, but at the same time it faces headwinds from the grounding of the MAX as it has to pay to lease other planes. The company said for..