TUI returns to profit for first time since pandemic

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Tour group TUI reported its first post-pandemic profit on Wednesday as it announced its Q3 figures on the back of robust bookings and travel demand.

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Published by

09 Aug 2023

Airlines have reported strong results this quarter as tourists have continued to flock to hotspots across Europe in a post-pandemic travel boom that shows few signs of slowing.

The tour group reported underlying earnings before interest and tax at 169 million euros ($185.46 million) for the quarter, as well as 5.3 billion euros in revenue.

«We are investing today to continue to significantly grow profitably in the future,» said TUI Chief Executive Sebastian Ebel.

He added that the Mediterranean region in Europe remained one of the top destinations for the tour group despite extreme weather.

«The heatwave in Northern Europe in June and the wildfires in Southern Europe have only dampened temporarily the previously strong development,» he said.

The group also said it had reduced its net debt by 1.1 billion euros to 2.2 billion euros. ($1 = 0.9112 euros) (Reporting by Joanna Plucinska, Editing by