TUI has announced that it is seeing a positive travel recovery trend for the 2023 summer season as holidaymakers make plans to enjoy their trips abroad following the pandemic.
There had been cautious optimism about an industry bounce-back and that optimism has been proven fruitful with results for airlines such as Ryanair and easyJet showing strong numbers, indicating that consumers are booking and planning holidays in droves.
The company said its first-quarter revenue reached 3.8 billion euros on winter and summer bookings, while its group EBIT loss almost halved to 158.7 million euros from 274 million euros a year earlier.
Upcoming bookings for the 2023 winter and summer seasons hit 8.7 million.
In a statement, TUI Chief Executive Officer Sebastian Ebel said: “Our strategy is clear: quality, cost discipline and market share. New products, additional customers, and as a result, more market share and above-average growth are the basis for future increases in revenue and earnings.”
European consumers are dealing with the highest levels of inflation in a generation, but demand for holidays has proved strong.
