European travel giant TUI Group has announced the first results of early bird promotions in Europe. According to the holding, the rate of booking is getting closer to the level of 2019. In addition, the company reduced its total loss in the first quarter to 274 million euros, which is significantly less than last year’s deficit of 676 million euros.
In addition, TUI Group’s revenue increased fivefold from 468 million to 2.37 billion euros. This happened due to a sharp increase in the number of bookings in all markets where the company operates, as well as due to new bookings for the summer of 2022, which already exceed the pre-crisis level.
In addition, the growth in revenue was also affected by the increase in prices for vacations. The cost of tour packages in the summer season increased by an average of 22% compared to the first financial quarter of 2021 (from November 2020 to January 2021), and for winter tours – by 15%.
“We are looking forward to a strong summer in 2022. The way out of the pandemic is becoming clearer. Demand for travel is high in all markets,” said Fritz Yussen, CEO of the holding. — As of January 30, tours for the summer of 2022 have already been booked by 3.5 million TUI customers. This is approximately 72% of the level of the summer of 2019. However, new bookings are currently already above summer 2019 levels, so the group expects the upcoming summer season to be close to pre-crisis levels.”
According to TUI sales, the highest demand is now for tours to Greece. The company has already stated that they intend to realize all the volumes planned for the summer. Also, high demand is noted for Spain, Cyprus and other mass destinations.