TUI holiday prices rise as it gains ex-Thomas Cook customers

Wednesday, 11 Dec, 2019 0

TUI’s summer 2020 bookings are up 18% in the UK and average rates have risen 3% since the collapse of its biggest and oldest rival, Thomas Cook.

Announcing its 2019 financial results yesterday, TUI said it had ‘experienced a significant number of new customers’ following Thomas Cook’s insolvency.

It said bookings for next summer are still at an early stage, but already a quarter of the UK programme – which is 14% bigger than this summer – has been sold.

For this winter, TUI UK has increased its planned capacity by 2%. Currently winter bookings are 4% ahead year on year and selling prices are up 6%.

TUI Group’s turnover climbed almost 3% to €18.9 billion this year, but underlying pre-tax earnings were down 25.6% to €893 million due to the enforced grounding of its MAX aircraft.

Excluding the MAX groundings, its earnings were in line with last year’s record of €1.19 billion, it said.

Therefore, TUI has forecast an increase in earnings to between €950 million and €1,05 billion in 2020.

"At an operating result of €893 million, TUI Group delivered a successful financial year 2019. Even in a challenging year for the tourism sector, TUI delivered a strong operating performance, a robust balance sheet and growth in its Hotels & Resorts and Cruises core businesses," said CEO Fritz Joussen.

below social share icons

Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk

Central Florida’s Polk County is conveniently located between Orlando and Tampa, and an easy drive to Central Florida attractions and...

Jet2.com is the UK’s third largest airline, flying from ten UK airports to more than 60 destinations across Europe and beyond....

In the heart of Europe, in one of the most innovative cities in the world, at the centre of business,...

At Visit California, our mission is to develop and maintain marketing programs – in partnership with the state’s travel industry...

The city has been the vibrant heart of Japan for over 400 years, and is a crossroads where tradition meets...

Located in the Mediterranean and connecting Asia and European continents that are separated by the famous Bosphorus, Türkiye is a...

NSW, Australia Welcome to New South Wales – a place to feel free, feel alive, feel new. As the official...

Philippine Airlines (PR), also known as PAL, is the Filipino flag carrier. The company started their operations in February 1941,...

The Oregon Tourism Commission, dba Travel Oregon, works to enhance visitors’ experiences by providing information, resources and trip planning tools...

Greater Fort Lauderdale’s assortment of adventures awaits you. Whether you want to relax on the beach as the sound of...

If you’re thinking of cruising, there’s a very good chance you’re considering a Carnival cruise. Growing since our founding in...

City Cruises is a leading operator of sightseeing, dining and charter services operating in London, York and Poole. We offer...

ABOUT THE PHILIPPINES Mabuhay! Welcome to our archipelago of 7,641 islands where there are endless beaches, lively and fashionable cities,...

In 2024, The Red Sea will be ready to welcome 300,000 guests in line with the completion of 16 hotels...

Some describe it as a natural playground. Some say, it’s simply unique as it offers a great array of travel...

Our leadership is bold. Our agility thrives on open innovation and we embrace the new, whether it’s diversity, trends, challenges....

Hilton is a leading global hospitality company with a portfolio of 22 world-class brands comprising nearly 7,300 properties and more than 1.1 million rooms, in...