UPDATE 1-Club Med H1 net loss widens, summer bookings fall

* Fiscal H1 net loss widens to 22 mln euros

* Summer bookings decrease 18.3 pct so far

* Shares fall 4.7 pct shortly after opening

(Adds CEO comments, shares)

PARIS, June 11 (Reuters) - French holiday resort and leisure group Club Mediterranee (CMIP.PA) posted a wider net loss in the first half of its fiscal year due to restructuring costs and the global crisis, and said summer bookings were down 18.3 percent.

Net profit in the six months to end-April widened to 22 million euros ($31.04 million) from 9 million euros as the company is restructuring to upgrade its villages, making them more luxurious. Sales fell 4.2 percent to 724 million euros.

Summer bookings so far reflected the wait-and-see attitude seen in the tourist industry, Club Med said on Thursday. The recent swine flu outbreak has also weighed on bookings, mainly from Japan, China and the United States.

Club Med said summer bookings could still improve, pointing to possible late bookings and the impact of advertising campaigns that were about to begin.

Club Med is at the heart of takeover talk after French businessman Bernard Tapie said last month he was interested in buying a stake in the company. [ID:nLB418577] He told Liberation newspaper on Thursday he had not yet decided what he would do.

Tapie is a high-profile businessman who made a fortune turning around a string of firms, including Adidas, before losing it later in an acrimonious battle with bank Credit Lyonnais over debts and the sale of assets.

Chairman and Chief Executive Henri Giscard d'Estaing said in an interview with Radio Classique he welcomed Credit Agricole (CAGR.PA) as a new shareholder, adding the move had nothing to do with hindering Tapie's possible plans.

"This is not close, nor far from our goal. The goal is to ensure that Club Med has a solid fiancial structure amid this international crisis and the changes we are implementing and that it has shareholders supporting its development," he said.

The French bank said on Wednesday it would buy a 4 percent stake in Club Med from hotel group Accor (ACCP.PA). [ID:nLA494969]

Club Med last year announced spending and capacity cuts in response to a decline in bookings caused by the financial crisis, focusing on boosting its market share and position as a global specialist in upmarket, multi-cultural vacations, especially in emerging growth markets. [ID:nLB196357]

On an operating level the group swung to a loss of 9 million euros against a profit of 5 million in the 2007-08 first half. Nevertheless, current operating profit in the leisure business grew to 28 million euros from 26 million.

Revenue per available bed, a key indicator of the business's move upmarket, rose 2.3 percent to 107.90 euros, led by a slightly higher occupancy rate and an average price increase of 3 percent.