Holiday operator TUI has reported that UK bookings for summer holidays are up 19% on pre-pandemic levels, despite household finances facing a squeeze from surging inflation.
The Germany-based company said the UK market was outperforming its wider business in terms of sales ahead of the core season for international travel.
TUI, which runs hotels, airlines, cruises and travel agencies, said high “pent-up” demand had helped it decide to return a portion of the €4bn+ state aid it had received from Berlin to navigate the collapse in travel during the heights of the COVID crisis.
It reported that a total of 3.5 million customers had booked a trip for summer 2022 as of 30 January, with new bookings helping group sales recover to 100% of 2019 levels.
The gradual lifting of restrictions on international travel has seen holiday firms and airlines enjoy a surge in bookings.
TUI credited the removal of testing requirements for the fully-vaccinated in the UK for giving people the confidence to fly abroad.
It said that customers were booking “higher quality” breaks as a result of the disruption of the past two years.
The company revealed its progress while outlining financial results for the first quarter of its financial year to 31 December.
TUI said group revenue of €2.4bn was €1.9bn higher on the same period in 2020.
It handled 2.3 million customers – an increase of 1.7 million.
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Source : skynews
