Tui UK & Ireland Delivers €71 Million Annual Profit

Tui UK & Ireland improved underlying annual earnings to €71 million after a "significant loss" in the previous year of €102 million.    

Tui Group carryings rose by 19% to 19.1 million in the year to September, fueled by a strong summer.

Overall revenue exceeded €20 billion for the first time with a rise of 25% year-on-year to deliver a doubling of underlying profits to €977 million.

Europe's largest travel group hailed "very strong demand" for holidays over the 12 months.

Tui said that periods of heat and forest fires in southern Europe "kept us and our customers busy in summer 2023, which also had a short-term impact on the development of bookings".

Winter bookings are up 11% with average prices rising by 5% over the same period last year. The increase in bookings also corresponds to the rise in capacity for the winter, Tui said.

Bookings for summer 2024are still at a very early stage, with 14% of the summer programme currently sold.

"Initial indications point to a strong season, with bookings currently up 13% on summer 2023 and average prices four per cent higher," Tui said.

The group expects for full-year 2024 revenue growth of at least 10% year-on-year and an increase in underlying earnings of at least 25%.

Chief executive Sebastian Ebel, unveiling the Tui Group annual report, said: "We had a strong summer and bookings have held up their healthy momentum into the early weeks of winter 2023/24. 

"We are working at a profit again; we have paid back the state loans. This has enabled us to invest in our own growth once more. And I am looking towards the new financial year with confidence. "