Shares jump as Tui predicts bumper summer
Tui Group said it remained on track for a strong summer on Thursday, sending shares in the German travel giant higher.
Travel & Leisure
9,215.48
12:54 24/12/24
TUI Travel
437.60p
16:59 11/12/14
The firm said it had seen strong demand across all its markets this Easter, with the Canary Islands, Turkey, Balearics, mainland Spain and Greece especially popular.
A total of more than 500,000 customers will be on holiday with Tui over Easter, the firm noted, with a forecast load factor of around 95% in line with pre-pandemic levels.
Sebastian Ebel, chief executive, said: "Booking momentum remains encouraging, and the travel trends and strong demand for the Easter holidays are a healthy signal for the coming summer.
"Our products and brand are popular and in high demand in the UK, Germany, Netherlands, Belgium [and] Switzerland. Based on trends to date, we continue to anticipate capacity to be close to pre-pandemic levels.
"We expect a good summer 2023."
As at 1230 BST, Tui's London-listed shares were ahead 11% at 619p.
Tui said customers were continuing to book holidays, despite the cost of living crisis and uncertain economic outlook, but were booking at shorter notice, and favouring package and all-inclusive deals.