Holiday group TUI sees more growth after profit doubles

TUI said bookings for next summer, the period when the group makes most of its profit, were currently up 13% on last summer with average prices up 4%.

The company's shares were up 8% at 552 pence, hitting four month highs.

Europe's biggest travel operator TUI forecast operating profit would jump 25% in 2024 after it more than doubled this year on strong demand for holidays, cruises and hotel stays, lifting its shares 8%.

TUI, like competitors easyJet and Jet2 has benefited from soaring demand this year as part of a pandemic bounceback in travel, but war in the Middle East and the threat of recession have prompted analyst warnings that profits may have peaked.