Travel group TUI has achieved record turnover in the past year. After the end of the corona crisis, the German holiday provider benefited from the revival of tourism. This also resulted in a net profit after years of losses.
The holidays, cruises and air travel offered by TUI generated a turnover of 20.7 billion in the financial year to September. That is almost a quarter more than a year earlier and a higher turnover than in the last year before the corona crisis. A total of 19.1 million people booked a trip or outing via TUI.
Bookings for hotels, resorts and cruises were particularly good for profits. But CEO Sebastian Ebel points out that the tour operator segment, i.e. the part that offers package tours, must become more profitable.
The operating profit, the result before deduction of taxes and interest payments, amounted to 999.3 million euros in the past financial year. That is more than three times the result of the previous financial year. Net profit amounted to 455.7 million euros, compared to a loss of 212.6 million euros in the 2022 financial year.
TUI expects another significant increase in turnover and profit next year. The company is based, among other things, on the good booking figures for this winter season, which are 11 percent higher than last year.
During the corona crisis, TUI was still having a hard time. The group announced in 2020 that it would cut thousands of jobs. The company also received billions in German state aid, including in the form of loans from an economic recovery fund. Thanks to the improved results, TUI managed to reduce debts by 1.3 billion euros this year.
Travel agents see more Flemish people booking holidays during the Christmas holidays
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