Tui holds annual outlook on strong bookings, higher prices

(Sharecast News) - Travel giant Tui on Tuesday held annual guidance on the back of a strong summer and solid bookings for this winter, underpinned by higher prices and despite extreme weather such as wildfires and floods in Europe. Summer bookings rose 5% to 13.7 million, the company said in a trading statement, with the positive momentum continuing into winter with an expanded programme and overall bookings up 15% year on year and prices increasing by 4%.

"Had it not been for the various events during the last few months which were outside of our control, not least the wildfires on Rhodes, we would have performed ahead of expectations," said chief executive Sebastian Ebel.

"We are seeing a strong close to the summer season and we are on course to achieve results in line with expectations. This is particularly evident in our main markets Germany where bookings year-on-year are 10% higher and UK where bookings are in line with an already strong prior year Summer season and 4% ahead of pre-pandemic levels."

Reporting by Frank Prenesti for Sharecast.com