Holiday company TUI Group has confirmed strong summer demand has continued into the winter season, supported by higher prices. TUI said that it was “well positioned to achieve the results target for FY 2023”
TUI confirmed a strong pipeline of 13.7 million bookings for the Summer 2023 season, a 5% increase against prior season and close to pre-pandemic levels at 96%. The group has taken an additional 1.1 million bookings taken since its Q3 2023 update with demand in the final month of season well ahead of Summer 2022 at +8%, said the company.
TUI reports that positive momentum continuing into Winter 2023/24 with an expanded programme and overall bookings up +15% against Winter 2022/23, also supported by higher prices +4% versus prior season. TUI is hedged for the coming Winter and Summer season in line with expectations.
TUI reconfirms expectations to increase underlying EBIT significantly for both Q4 2023 and also for FY 2023 against FY 2022
TUI’s Q4 underlying EBIT FY 20232 expected to increase significantly against prior year with the airline set to achieve a significantly improved result with a strong increase in results.
TUI’s mid-term 2025/26 ambitions are for underlying EBIT to significantly build on €1.2bn. “We have a target to return to a gross leverage ratio of well below 3.0x and aim to return to a credit rating in line with the pre-pandemic rating of BB / Ba territory,” said TUI.