More than four times as many guests travelled with TUI in the first quarter of 2022 as in the same period last year, TUI Group is reporting.
Average prices are up 22% on the previous year and new summer bookings are above pre-crisis levels, the group says.
First quarter results for 2022, covering the three months from October-December 2021, reveal revenue was five times higher than in the same period last year, which TUI sees as ‘the next step out of the pandemic’, adding: “The market is intact, the demand is there.”
Revenue in Q1 2022 was €2.37 billion, five times higher than in the previous year (Q1 2021: €468 million), with seasonal loss significantly reduced to €274 million loss compared to a €676 million loss the previous year.
In total, 2.3 million guests travelled with TUI in the period under review, more than four times as many guests as in the comparable quarter of the previous year.
TUI says there is very high demand for holidays for summer 2022, and average prices are up 22% for summer and 15% for winter.
The increase in prices has been boosted by ‘increased demand for package holidays… higher-value offers and more additional services, for example upgrades in hotel or room category’.
The operator said: “We see a very strong booking dynamic for summer 2022. Only at the end of November and in December was there a short-term dampener due to the Omicron variant, which had not yet been conclusively researched at the time.
“Currently, a trend towards short-term bookings is still noticeable, but confidence in progress in ending the pandemic is increasing and holiday bookings are picking up significantly.
“As of 30 January, a good 3.5 million TUI customers had booked a trip for summer 2022. This is around 72% of the level of Summer 2019 at the same time.
TUI Group CEO Fritz Joussen: said: “We expect a strong summer 2022. There is pent-up demand among customers.
“We see this in all European source markets. The last two financial quarters have shown that the Group continues to stabilise.
“Every step towards normality gives people confidence, and the demand for holidays increases immediately.
“Despite the still ongoing trend towards very short-term bookings, we see the strong demand for the upcoming summer 2022.”