TUI expects to become profitable in 2022 as travel demand booms

 TUI expects to become profitable in 2022 as travel demand booms


The Tui app can be seen on a smartphone in this illustration taken, February 27, 2022. REUTERS/Dado Ruvic/Illustration/Files

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FRANKFURT, May 11 (Reuters)-Holiday group TUI (TUIGn.DE) said Wednesday it is expected to be profitable again in 2022 with significant positive base income due to strong booking while countries lift pandemic -related travel bans.

In the second quarter, TUI’s underlying loss before interest and tax (EBIT) fell to 330 million euros ($ 347.95 million), almost halving the loss of 633 million euros it reported in the same period last year. .

TUI also said it generated sales of 2.13 billion euros in the second quarter of the 2022 financial year starting in October – nine times more than in the second quarter of 2021 – as people jumped to travel to once it can be done again.

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“Strong Easter business is the first sign. High demand for travel and good business performance confirm our predictions. 2022 will be a good year with a strong summer. to travel, ”Chief Executive Fritz Joussen said in a statement.

He added that he expects TUI’s capacity to almost reach pre-crisis level by 2019 this year.

($ 1 = 0.9484 euros)

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Reporting by Zuzanna Szymanska, editing by Kirsti Knolle

Our Standards: The Thomson Reuters Trust Principles.



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