Tui hopeful of 25% spike in full-year earnings with summer nearly 90% sold

In its northern European region, which covers the UK, Ireland and the Nordics, underlying ebit rebounded from a €1.1 million (£940,000) loss during Q3 last year to €14.2 million (£12.2 million). "Prices remain robust," said Tui, with average prices up by 3% year-on-year.

Bookings across the group during the pre- and early-summer period increased by 6% year-on-year, with 88% of summer capacity already sold. In the UK, summer bookings are up 5% year-on-year, while its 2024/25 winter programme is currently 32% sold – equitable with sales during the same period last year.

"The start of the season [is] looking promising," said Tui. "As usual, the UK market has been on sale longer than the other markets. Bookings are at the same high level as last year."

Overnights are running 2% ahead of last year, while hotel occupancy currently stands at 80% – up 1% year-on-year. The average day rate, meanwhile, increased by 7% year-on-year to €85 (£73).

Tui said higher occupancy and rates across its cruises segment pointed towards "strong demand" for cruises with occupancy up three percentage points year-on-year to 98% and average fares increasing by 7% to €235 (£201).

Ebel also stressed that Tui’s broader financial health and resilience has improved over the past three months thanks to a reduction in net debt to €2.1 billion (£1.8 billion) and refinancing worth nearly €500 million (£428 million), which it expects to reduce annual interest costs by around €18 million (£15.4 million).