TUI sees return to profit in 2022 as summer demand soars

by | May 11, 2022

Holiday giant TUI said it expected to return to profit in 2022 with “significantly positive” earnings driven by summer demand as Covid travel restrictions eased.
The company on Wednesday said it was confident that summer bookings would be close to 2019 pre-Covid pandemic levels after first-half losses were more than halved.

The company posted an operating loss of €603m, down 54%, and added that the Ukraine war had not impacted its key markets of the UK, Germany and Benelux, with only Poland and the Nordic countries “subdued”.

“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 earnings before interest and tax (EBIT) for financial year 2022,” TUI said in a statement.

In the second quarter, TUI’s underlying EBIT narrowed to €330m, almost halving the €633m loss from a year ago.

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