Next summer's sales close to pre-Covid levels, says Tui

The operator said it had a “very encouraging” pipeline of 1.6 million summer 2022 bookings across its markets, up 54% on summer 2019 and with average selling prices 15% higher. Turkey, Florida, Greece and Cyprus are its best sellers.

"With the strong indications of pent-up effects, Tui believes Summer 2022 volumes will likely recover close to normalised levels of Summer 2019," it said.

The operator also said it had seen 2.6 million customers depart on holiday in July and August, double the number last year.

Tui’s winter sales are 54% of 2018/19 levels, with prices up 14%. It said vaccinations meant there would be “a wider increase in international travel this winter” and it planned capacity across all markets of 60-80% of normal levels. Top-selling destinations include the Canaries, mainland Spain, Egypt and Cape Verde.

“The demand is there,” Tui said, adding the lifting of restrictions had been key. “In Germany and the continental European markets, this development could already be seen throughout summer of 2021. In England, this occurred more frequently after the previously extensive restrictions were eased in recent weeks.”

Tui has sold 5.2 million summer 2021 holidays across its markets, an increase of 1.1 million since August, with bookings in Germany and the Netherlands “well ahead of summer 2019”.

Tui Group has secured a €1.1 billion capital increase via the issue of 523 million new shares. Cash raised will be used to reduce interest costs and repay government support taken during the pandemic.

Tui Group chief executive Fritz Joussen said: “The capital increase will enable us to take a significant step closer to our goal of rapidly repaying the government loans. We are excellently positioned to benefit from the full return of tourism."