TUI expects a strong summer season, despite increased prices. The company reported better-than-expected quarterly results.
In a statement, it said that bookings have already been made for around 60% of summer capacity, even with prices increased by 4% on average compared to 2023.
UK summer capacity is currently 65% sold for the season.
“Both our ongoing operations in the UK and the Nordics reported higher results supported by increased volumes at higher prices.”
TUI’s revenue rose 16% to a record €3.6 billion in the latest quarter.
The cruise and hotel business units performed best, he said.
It reduced losses to 189 million euros, with sales in short- and medium-haul destinations such as the Canary Islands and Egypt performing well.
“The group’s business model allows for a flexible shift of capacity from the eastern to the western Mediterranean,” TUI said of the uncertain situation in the Red Sea region.
“The first two quarters of the financial year were very successful from an operational point of view. It clearly demonstrates the resilience of our business model,” said CEO Sebastian Ebel.
