Q3 2021 Tui AG Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to the TUI AG conference call regarding the FY '21 Q3 results. (Operator Instructions)
Let me now turn the floor over to your host, Mr. Friedrich Joussen and Mr. Sebastian Ebel.
Thank you very much, and good morning, everybody, and welcome to our Q3 results announcement. I will be opening the floor, and I will be followed by Sebastian and then we will be taking questions.
So let me turn to Page #4 and summarize the major developments. I think the first good news is that we added 1.5 million summer bookings since H1 update. So in the last 3 months, net earnings, 1.5 million, and we have right now 4.2 million summer bookings in the system.
The second good news is that we saw a rebound of working capital, EUR 320 million free cash flow before financing. So it's the first quarter since the pandemic that we don't -- we didn't burn cash, but that we had a positive free cash flow. And when you look at our liquidity position,
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