Travel giant TUI beats forecast with early summer quarter profit

Underlying earnings rose to €169m in the quarter to the end of June, TUI's first profitable early summer since the pandemic

TUI stuck to guidance for EBIT to be higher than the €409m it reported for the financial year to the end of September. File picture

Travel giant TUI expects its summer 2023 season to be close to pre-pandemic levels even as the pace of growth tapers off amid high inflation and rising interest rates.

The world’s biggest tour operator said underlying earnings before interest and tax rose to €169m in the quarter to the end of June, its first profitable early summer quarter since the pandemic, beating analyst forecasts for a €145m result.