Positive booking momentum and strong end-of-summer trade lead TUI Group to forecast annual profits to rise by at least 25% this year compared to 2023.
It is noted that last year the group’s profits amounted to 977 million euros.
According to a stock exchange update, summer bookings remain 6% higher than last year, with 1.4 million more bookings since the company’s last update on August 14, bringing the total to 14.7 million for the season.
According to the announcement, 97% of the company’s schedule has now been sold, a marginal increase of 1% from summer 2023.
Europe’s biggest travel company posted a 10% rise in bookings from Germany as it added capacity to Turkey, Greece, the Balearic and Canary Islands and Egypt in response to the collapse of rival FTI.
According to the update, across all its markets, the short- and medium-haul program saw the strongest growth, with Spain, Greece and Turkey being the most sought-after destinations.
Meanwhile, bookings (+) for the 2024-25 winter season are developing positively, with higher demand for wholesale and dynamic packages.
The winter performance comes as consumers “continue to prioritize spending on leisure experiences”, with 1.8 million bookings made so far.
Bookings for the season are at a relatively early stage, with 33% of the program sold, 1% higher than last winter season, according to TUI.
As reported, greater demand compared to last year is observed in all of the company’s main short and medium-haul destinations, with the Canary Islands, Egypt and Cape Verde once again proving to be the most popular. While Thailand, Mexico and the Dominican Republic are set to form a key part of TUI’s long-haul destination offering for the upcoming winter season.
TUI is expected to issue results for the full financial year on December 11.
