TUI bullish on demand for holidays

STORY: TUI is feeling bullish about bookings.

The world’s biggest holiday firm on Tuesday (September 19) said full-year results were on track to “increase substantially”.

It said demand had been strong over the summer season, and was looking good going into the winter too.

The German giant said it would have beaten forecasts over recent months but for extreme weather events.

That includes wildfires in Greece and a heatwave in many parts of Europe.

It has forecast losses of around $27 million in connection with the Greek island blazes.

Europe’s air traffic control body says overall weather-related disruption to air travel has been two-and-a-half times last year’s level.

Even so, summer bookings at TUI this year hit 13.7 million - up 5% on 2022.

Reservations for the winter season are also strongly up on a year earlier.

The numbers confirmed that a post-health crisis travel boom is still going strong.

And they sent TUI shares soaring.

The stock was up 6% in early European trade, making the firm among the day’s top gainers in the region.