(Alliance News) - Tui AG on Tuesday said summer trading is set to end in line with expectations, as it expects its financial fourth quarter to have shown further recovery from the Covid-19 pandemic.
In its fourth quarter to September 11, the Anglo-German holiday operator's summer 2022 programme totalled 12.9 million bookings, up 12% from 11.5 million since its third quarter update on August 10, with bookings at 91% of summer 2019 levels. The key departure months of July and August closed at 94% of summer 2019 levels.
The operator said average selling price is up 18% compared to summer 2019. This reflects a "higher mix of package products and the popularity of our summer holidays which will help to soften the impact from the current higher inflationary environment", it explained.
Tui said it expects the fourth quarter of financial 2022 to deliver further strong progress, with the Hotels & Resorts division set to deliver its fifth consecutive positive quarter, as it expects to see continued strong demand for winter 2022 and 2023, especially in the Canaries and the Caribbean.
Looking ahead for financial 2022, Tui reiterated its expectations to return to "significant" underlying earnings before interest and tax, building on EUR803 million reported in financial 2019.
Chief Executive Officer Fritz Joussen and Chief Financial Officer Sebastian Ebel said: "In 2022, we see a strong travel summer almost at the same level as summer 2019. We confirm our guidance and will successfully close the 2022 financial year with a significantly positive underlying EBIT."
Tui will publish its results for the year ending September 30 on December 14.
Shares were down 1.0% at 135.57 pence each on Tuesday morning in London.
By Xindi Wei; xindiwei@alliancenews.com
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TUI AG (TUI)