Travel giant TUI sees summer bookings ahead of 2019 pre-pandemic levels

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TUI AG said recent bookings for the upcoming summer are running ahead of pre-pandemic levels, the latest sign the travel sector is booming despite high inflation sapping consumer spending power.

The world’s biggest tour operator said booking volumes over since the start of the year exceeded 2019 levels, led by demand from travelers in the UK and Germany. Prices are also higher than pre-pandemic levels, the company said.

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Reporting earnings for its first quarter ending December 31, TUI said losses narrowed to €153 million ($164 million), down from €274 million in the same quarter a year ago. TUI confirmed its full-year guidance for a significant increase in underlying earnings.

Read more: Remote, flexible work to boost travel spending by UAE, Saudi travelers in 2023

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