Shares jump as Tui predicts bumper summer
By Abigail Townsend
Date: Thursday 06 Apr 2023
(Sharecast News) - Tui Group said it remained on track for a strong summer on Thursday, sending shares in the German travel giant higher.
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.
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