Summer start but when??13 May 2020 08:53
H2 Outlook
TUI has a resilient business model and has shown strong operational performance in recent years. Before the COVID-19 crisis, the business was on track to deliver a strong FY20, despite further costs related to the grounding of the Boeing 737 Max.
The travel industry has proven to be resilient many times, weathering many macroeconomic shocks throughout the recent decades and has been quick to adapt to macro challenges.
We expect travel will be different for the remainder of this year, however we strongly believe our customers will still want to holiday. Online enquiries to our website indicate to us that customers are still actively researching holidays and destinations; customers want to travel as soon as tourism can take off responsibly and safely.
We consider ourselves very well positioned to benefit from a recovery post the COVID-19 crisis. Our vertically integrated model enables a fully coordinated restart of the value chain. TUI's trusted brand, direct customer engagement across the full holiday journey and differentiated products are clear USPs for customer post crisis. TUI's market leading position combined with long-standing relationships with suppliers, retail agents and tour operators, means TUI plays an important and critical role in the restart of the industry.
The foreign tourism ministries from destinations such as Greece, Cyprus, Portugal, the Balearic Islands, Austria, and Bulgaria are preparing intensively for the return of tourists. The health and wellbeing of both customers and colleagues remain paramount and we are assessing how we can responsibly adapt to measures so that leisure travel can resume. We are preparing new procedures for the airport process, on board our aircraft, in hotels and on our ships, so that any social distancing recommendations or guidelines can be implemented, without compromising customer enjoyment and travel experience. TUI, alongside our many destination partners, stands ready for a responsible restart and resumption of our travel programme.
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