UK still Tui's 'most advanced' market as group reports strong summer outlook

Reporting its performance from 1 October 2021 to 31 March 2022, Tui revealed 11 million bookings across winter 2021/22 and summer 2022 – with five million added since its Q1 Interim Report in February.

Bookings across key markets, such as the UK, Germany and Benelux “have been largely unaffected” by the war in Ukraine, Tui said, adding that only the Nordics and Poland were “subdued”.

Its summer 2022 bookings are currently at 85% of summer 2019 levels, with total sales in the last six weeks “firmly surpassing” summer 2019.

Tui said it was “confident” in its summer 2022 capacity prediction being “close to normalised" 2019 summer levels.

Average selling prices “continue to be strong” up 20%, the group reported, which it said reflected “a higher mix of package products” and the “popularity of our summer holidays”.

Revenues for its half-year period grew to €2.1bn - a €1.9bn improvement year-on-year verses €0.2bn in Q2 of 2021.

“After two years of turbulence and against the backdrop of current bookings and the business performance to date, we expect to return to significantly positive underlying EBIT for financial year 2022,” the travel giant said.

March saw Tui achieve its highest monthly revenue within the quarter, as operations ramped up after a “subdued” January and February following widespread Omicron restrictions across Europe.