TUI Reports Strong Summer Bookings As The Travel Industry Recovers

Holidaymakers are making plans to take their breaks after a pandemic hiatus, according to travel company TUI, which stated on Tuesday that it was seeing a positive travel recovery trend for the upcoming summer season.

Many feared that the effects of the recession would reduce demand for vacations, but airline results from Ryanair, Wizz Air, and easyJet showed encouraging momentum and suggest that consumers are preparing for their vacations.

One of the biggest tour operators in the world reported first-quarter revenue of €3.8 billion ($4 billion) on the back of positive winter and summer bookings, while group EBIT loss nearly halved to €158.7 million from €274 million in the prior year.

Future reservations totaled 8.7 million for the winter and summer seasons of 2023.

“Our strategy is clear: quality, cost discipline and market share. New products, additional customers, and as a result, more market share and above-average growth are the basis for future increases in revenue and earnings,” TUI Chief Executive Officer Sebastian Ebel said in a statement.

Although European consumers are experiencing the highest levels of inflation in a generation, the demand for vacations has so far shown itself to be steadfast. Early this year, low-cost airlines like Ryanair, Wizz Air, and easyJet all reported strong summer bookings.

With an increase of about a million visitors from the previous quarter, total revenue increased by 1.4 billion euros to 3.8 billion euros.

Prices had increased year over year, the company reported, and demand had increased over pre-pandemic levels in the previous four weeks.

Additionally, the company’s Hotels and Resorts division reported 71% occupancy between October 2022 and March 2023, up from the 56% reported for the previous year.

Separately, TUI shareholders will vote on a capital increase plan to pay back Germany’s Economic Stabilization Fund later on Tuesday.

(Adapted from


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