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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Tour operator TUI confirms full-year outlook on back of strong bookings

The TUI logo is seen at the TUI travel centre following the coronavirus disease (COVID-19) outbreak,... The TUI logo is seen at the TUI travel centre following the coronavirus disease (COVID-19) outbreak, in Hanley, Stoke-on-Trent, Britain, July 28, 2020. REUTERS/Carl Recine/File Photo
The TUI logo is seen at the TUI travel centre following the coronavirus disease (COVID-19) outbreak,... The TUI logo is seen at the TUI travel centre following the coronavirus disease (COVID-19) outbreak, in Hanley, Stoke-on-Trent, Britain, July 28, 2020. REUTERS/Carl Recine/File Photo

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On Tuesday, tour operator TUI (TUI1n.DE) reiterated its full-year outlook for the 2023 fiscal year. Despite extreme weather like flooding and heatwaves affecting travel plans, TUI cited robust bookings in the summer and incoming winter season.

The desire for post-pandemic vacations across Europe helped European airlines, but harsh weather tempered some of the excitement about a robust tourism recovery.

According to a statement from the corporation, summer bookings for 2023 were at 13.7 million, an increase of 5% over the summer before.

CEO Sebastian Ebel stated in a statement that “had it not been for the various events over the past few months that were out of our control, not least the wildfires on Rhodes, we would have performed ahead of expectations.”

According to the corporation, summer bookings were 96% of pre-pandemic levels, while forward bookings were up 15% compared to the winters of 2022 and 2023.

The company stated that it was on track to reconfirm that its underlying earnings before interest and tax will increase significantly for the fourth quarter and the year, with continued growth scheduled for 2025 and 2026, even as Europe faced catastrophic weather that caused unprecedented levels of disruption.

Thunderstorms were the main reason of delay, according to Eurocontrol, which reported that weather-related air transport disruption was two and a half times higher in July than in 2022.

The travel operator announced last week that it was keeping an eye on the unfavorable weather in its principal locations. Prior to that, it estimated that flames on the Greek islands might cause damages of up to 25 million euros.


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