TUI Travel chief takes home £10.1m for 2013 TUI posted a 10pc decrease in statutory pre-tax profits for 2013 to £181m following losses in France and a costly restructuring of its specialist and activity division, which operates sports-based holidays. The company also booked a £69m impairment on its mainstream holidays division, primarily relating to businesses trading in North Africa, which continued to suffer from the fall-out of political unrest in the region. Excluding one-off costs, TUI's underlying operating profit reached a record £589m for 2013, a 20pc increase on 2012, as Britons fell back in love with the package holiday. TUI insisted that since 2010, the group's earnings per share had increased by more 22pc a year. The company said: "Shareholders have seen this reflected in our share price, which has increased by almost 60pc over this period taking our market capitalisation from £2.2bn to £4.1bn and it continues to rise (today it is £4.6bn). The remuneration received for the year ended 30 September 2013, under the terms of the remuneration policy, recognises this performance. The group added: "TUI Travel's remuneration policy places substantial emphasis on variable pay to ensure that reward is aligned with the best interests of shareholders and that executive directors will only receive significant remuneration for exceptional performance. For the sixth year running the group achieved a record underlying operating profit.