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TUI revenue up five-fold with strong summer bookings
TUI reported positive results for the first quarter as new bookings for the summer were close to pre-pandemic levels.
As of the end of January 2022, it said 3.5 million customers had booked a summer holiday
Revenue in Q1 2022 reached €2.37 billion, which is five times higher than in the previous year.
The seasonal loss significantly reduced to €274 million, compared with 676 million a year ago.
"We expect a strong summer 2022. The path out of the pandemic is becoming increasingly clear. Demand for travel is high across all markets," said TUI CEO Fritz Joussen.
"TUI has used the time to transform: we are leaner and more efficient today and are becoming more profitable than before the crisis."
The company says it will soon start returning about €700 million in state aid.
It says there is a ‘very strong booking dynamic’ for summer 2022.
It sees a trend towards short-term bookings but confidence is increasing and holiday bookings are picking up.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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