by Donald Wood
Last updated: 12:30 PM ET, Tue September 19, 2023
European travel company, TUI Group, announced its full-year
financial results would likely “increase substantially” thanks to strong summer
demand and an increase in winter bookings.
TUI revealed that summer bookings for 2023 were at 13.7
million, an increase of five percent year-over-year and 96 percent of
pre-pandemic totals. The travel company’s data also showed that forward
bookings were up 15 percent.
The travel company’s data confirms that the post-pandemic
travel boom is still going strong.
“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,” TUI CEO Sebastian Ebel said.
Travel in Europe this summer thrived despite extreme weather
that resulted in unprecedented levels of disruption, with Eurocontrol reporting
that weather-related air travel delays and cancellations were 2.5 times higher
than last year.
TUI officials said that despite the travel disruption, the
company told Reuters.com
it would “reconfirm its underlying earnings before interest and tax would
increase substantially for the fourth quarter and the year, with continued
growth set for 2025 and 2026.”
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