TUI Group has made an energetic start in the new financial year 2023/24. In the first quarter (October to December 2023), 3.5 million passengers travelled with TUI. That is 6 percent, or 200,000 more passengers than in the previous financial year. This resulted in a 15 percent increase in turnover to 4.3 billion euros in the first quarter. This is evident from the figures for the first quarter of 2023/24 published by TUI Group on Tuesday. For the first time in ten years, there was a positive operating result in this first quarter, which normally has a negative result due to seasonal factors. The operating result (EBIT, before interest and taxes, ed.) amounted to six million euros. Last financial year, there was a loss of 153 million euros in the first quarter. According to Sebastian Ebel, CEO of TUI Group, the measures taken earlier are bearing fruit. “People’s willingness to travel is still high, despite challenging market conditions.” Ebel confirmed TUI Group’s targets for the current financial year, which runs until the end of September. The travel group wants to grow its annual turnover by ten percent and increase its operating profit by a quarter to more than 1.2 billion euros. Last financial year (2022/23), TUI Group achieved a record turnover of 20.7 billion euros, with 19 million passengers and a profit before tax (EBIT, ed.) of 977 million euros. TUI Group also expects a higher profit in the second quarter compared to the previous financial year, but this growth is less strong than in the first quarter. This is partly due to the change in the exchange rate of the British pound against the euro. Bookings for both the summer of 2024 and the winter season 2023/24 are eight percent ahead of last year at TUI Group. TUI currently records a total of 9.4 million bookings for winter and summer combined. This time last year, there were 8.7 million. The average prices for winter 2023/24 at TUI Group are currently four percent higher than last year. “Short- and medium-haul destinations continue to generate bookings, with the Canary Islands, Egypt and Cape Verde proving popular again,” says TUI. Average prices for next summer will also be four percent higher than last year. For all major short- and medium-haul destinations, demand is currently above the previous year. The most popular destinations are again Spain, Greece and Turkey. Photo: Sebastian Ebel, CEO of TUI Group (Photo TUI Group).
