FRANKFURT (Reuters) – Tourism giant TUI said on Wednesday it expects to return to profitability in 2022, with significantly positive underlying earnings, thanks to strong bookings as pandemic-related travel restrictions were lifted.
In the second quarter, TUI’s underlying loss before interest and tax (Ebit) narrowed to €330 million, almost half of the €633 million loss recorded in the same period. last year.
TUI reported revenue of 2.13 billion euros in the second quarter of its 2022 financial year, which started in October – nine times more than in the second quarter of 2021 – thanks to the resumption of trips.
“Strong Easter activity was the first indicator. Strong travel demand and good business performance confirm our forecast. 2022 will be a good year with a strong summer in travel,” chief executive Fritz Joussen said in a statement.
He added that he expects TUI’s capacity to almost reach pre-pandemic levels this year.
The TUI title took 2.7% at the start of the session on the Frankfurt Stock Exchange.
(Report by Zuzanna Szymanska, French version Elena Vardon, edited by Kate Entringer)
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