TUI sees strong summer bookings

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1 年前

STORY: There are good signs ahead for travel this summer season.

That's according to holiday group TUI.

The German firm said Tuesday (February 14) it saw a positive travel recovery trend.

Analysts had feared the cost of living crisis would hurt demand for holidays.

But bookings and results from budget airlines like Ryanair, Wizz and easyJet have been promising.

TUI said the number of guests in the first quarter was 3.3 million, well up on 2.3 million last year.

Upcoming bookings for the winter and summer seasons this year have hit 8.7 million.

Q1 revenue reached $4 billion, while TUI's group loss before interest and taxes almost halved from a year earlier.

Europeans are dealing with the highest levels of inflation in a generation.

But, to-date, demand for holidays has proven resilient.

And price rises in the tourism sector have stayed lower than inflationary cost hikes.

TUI shares rose close to 2% in early trade following the sunny outlook.