TUI, Europe’s largest tour operator, achieved record-breaking performance in the last quarter with all divisions, including hotels, tours, and cruises, experiencing strong demand for holidays.
Six million holidaymakers travelled with TUI in the three months ending June, leading to total revenues of €5.8bn, up 9pc on the same period the previous year.
Despite concerns in the travel industry, TUI noted a 6pc increase in bookings and a 3pc rise in prices for this summer, successfully offsetting inflationary costs and capitalizing on popular destinations like Spain, Greece, and Turkey.
The company’s underlying earnings before interest and tax (EBIT) surged by 37pc to €232m in its third quarter, surpassing analysts’ forecasts.
Chief executive Sebastian Ebel said: “For the eighth consecutive time, we are reporting double-digit growth in underlying EBIT. In a market environment that remains challenging, this also demonstrates the strength and future viability of our business model. We are a developer, investor and operator in the destinations, which makes us very different from our competitors.”
The company also said that, while it was still early, it had experienced a “promising start” to the upcoming winter season, with 32pc of its offerings already sold.
