TUI stems cash burn as holiday bookings surge

The world’s biggest tour operator say current bookings show a high pent-up demand

TUI has raised billions of euros from three bailouts since the pandemic hammered its core business.

TUI stopped burning cash as holiday bookings surged following European government moves to relax travel restrictions.

The world’s biggest tour operator reported cash inflows during the three months through June when financing costs of €320m are excluded, the first time it’s recorded a positive number since the onset of the Covid-19 pandemic. That’s after revenue surged to €650m in the quarter from €72m a year ago.