Travel Group TUI Sees Strong Price Increases for the Summer Season

TUI, the world’s largest tour operator, sees “strong price increases” for the upcoming summer holidays. According to director Sebastian Ebel, this is necessary to cover the costs.

Still, the sky-high inflation and more expensive holidays are not stopping people from booking for the time being. According to TUI, the number of bookings for the summer season has now passed pre-coronavirus levels. In addition, the travel group sees that many Germans and English people, in particular, have already booked their holidays.

TUI did suffer from the problems at Schiphol last quarter, Ebel said during an explanation of the results. The group already indicated last year that the chaos in aviation was hindering recovery. The results were also depressed last quarter by the depreciation of the British pound.

TUI has seen a delay in bookings to the popular holiday destination since the earthquake in Turkey. However, Ebel expects this trend to be temporary. The group also announced on Tuesday that the loss in the past quarter has decreased to 153 million euros. In the same period a year earlier, this was 274 million euros.