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Global Economy

TUI expects almost as many bookings for summer 22 as before the pandemic

Europe’s largest tour operator TUI expects bookings for this summer to be close to pre-pandemic levels.

Demand for more luxurious hotels and long-distance travel has pushed prices up more than 20 percent year-on-year. In December, the German-British group had warned of further slumps, now TUI is optimistic:

Tui’s share price fell more than 5 percent on the London Stock Exchange after shareholders rejected a potential €1.7 billion capital increase at the annual general meeting.

TUI has suffered more than most other travel companies from the pandemic because the group not only offers air travel, cruises and hotels, but also operates them. With a turnover of 2.3 billion, last year was significantly better than 2020, but is still a third below 2019. TUI received more than 4 billion euros in support loans from the German treasury, and the first 700 million euros should be paid back in April be paid.

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