TUI: Summer trading is robust
TUI has reported robust current summer trading in spite of the Tunisia massacre and the Greek financial crisis.
It said the programme is 86% sold, in line with last year, and bookings and average selling prices are up 2%.
It said Tunisia accounts for 3% of its annual programme and that most of the customers booked to Tunisia have now booked to other TUI destinations.
Bookings to Greece, meanwhile, have recovered in recent weeks and cumulative bookings are up year-on-year. Greece accounts for 10% of its annual programme.
Reporting results for the third quarter, TUI chief executives Friedrich Joussen and Peter Long, said: "This quarter was marked by the tragic events in Tunisia at the end of June. Supporting our customers, their families and our colleagues through this sad time remains our highest priority.
"We are very proud of the commitment and dedication our colleagues have shown throughout this unprecedented situation.
"Recent weeks have also seen continued economic uncertainty in Greece. Within our business model there is an inherent assumption that we will face a level of disruption as a result of external events. We are continuing to deliver our growth strategy as the world’s leading tourism business.
"In spite of the events in Tunisia and Greece, we have continued to deliver strong growth in underlying EBITA. This demonstrates the resilience of our integrated business model.
"Tourism earnings growth was driven by
Cruise, Hotels and Resorts and a strong performance by the UK. Hotelbeds Group has also delivered growth in earnings.
“Based on current trading we are confident of delivering underlying EBITA growth of 12.5% to 15% in the current financial year and at least 10% underlying EBITA CAGR over the next three years."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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