TUI sees summer travel demand to ‘significantly’ lift 2023 profit

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LONDON, May 9 (Reuters) – Travel firm TUI said it expects strong revenue and higher profit for the full year of 2023 on the back of strong booking momentum for the busy summer travel season.

Bookings rose by 13% compared with the previous year and reached 96% of bookings in the summer of 2019, with average prices for summer trips up 5% over last year.

“Strong booking development and significantly improved quarterly figures underline our expectations: it will be a strong summer and a good financial year 2023 with a significantly higher operating result,” CEO Sebastian Ebel said in a statement.

The company also repaid its state financial aid in full earlier this year and reported a narrower quarterly underlying earnings before interest and tax (EBIT) loss of 242 million euros ($266.39 million), up 88 million over last year.

($1 = 0.9084 euros)

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