Tui optimistic despite heavy losses as bookings fly in

Tui has reported a loss of €1.3bn

Tui (LON:TUI), one of Europe’s largest holidaymakers, confirmed that it has seen an influx of bookings as the company revealed it has sold 2.6m packages ahead of the summer.

The travel giant also confirmed that its prices were up by 22% compared to 2019%.

During H1 of the current financial year, Tui has reported a loss of €1.3bn, for the period from October 2020 to March 2021. As borders were closed and the prospect of summer holidays were doubtful, the travel company took €700m in sales, down from €6.6bn over the same period the year before.

Many future flyers were willing to hold on til the summer of 2022, using vouchers to secure dates when fewer restrictions will apply. Since March new bookings for summer 2022 have increased by 109%.

“The prospects for early summer 2021 make me optimistic for tourism and for Tui. They are significantly better than in the first pandemic year, 2020,” said Fritz Joussen, Tui’s chief executive.

Coronavirus tests for holiday goers could be as low as £20 under plans revealed today that are designed to encourage bookings. 

Tui, the UK-based tour operator, said it would cut the price of PCR tests by more than 50% as concerns were raised over the cost of tests stopping people from booking vacations abroad. 

The company will manufacture a number of packages to be distributed to passengers as of Monday, including one for £20 for people returning to the UK from “green” listed countries.