Holiday giant TUI confident of having strong summer despite mounting losses
TUI said summer holiday bookings have been approaching pre-Covid levels with pent-up demand driving a steady recovery, particularly since the UK lifted restrictions and eased testing rules.
Shares in Europe’s largest holiday provider TUI fell by as much as 4% on the back of industry analysts saying they expect the company’s losses to be larger than expected in the three months to the end of March, which cover the second quarter of its financial year.
TUI reported an underlying operating loss of €274m for its first quarter, covering the three months to the end of December.
