Tui tells families it will NOT offer cheap last minute holiday deals this summer

Fritz Joussen (pictured), CEO of Tui, has revealed that the company will maintain its current pricing structure

Fritz Joussen (pictured), CEO of Tui, has revealed that the company will maintain its current pricing structure

Tui tells families it will NOT offer cheap last minute holiday deals this summer, despite expectations that bookings will reach pre-pandemic levels

  • Tui CEO Has Revealed That The Company Will Maintain Current Pricing Structure
  • It comes despite the travel agency cutting its losses in half in the past six months
  • Customer numbers and bookings have skyrocketed after Covid restrictions are lifted
  • Tui prices for this summer have risen, driven by longer and more expensive trips

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Tui has told families it will not be offering cheap last minute holiday deals this summer, despite expectations that bookings will reach pre-pandemic levels.

Fritz Joussen, CEO of Tui, has revealed that the company will maintain its current pricing structure – against the trend of previous years.

It comes despite Tui cutting its losses in half in the past six months as the recovery in customer numbers and bookings continues following the lifting of Covid restrictions.

The tour operator said prices are up 20 percent for this summer, but bosses stressed that this was caused by longer vacations and more expensive travel, including five-star hotels, as many people are traveling for the first time since the pandemic.

Mr Joussen said today: ‘There will be practically no last minute deals this summer.

Fritz Joussen (pictured), CEO of Tui, has revealed that the company will maintain its current pricing structure

Fritz Joussen (pictured), CEO of Tui, has revealed that the company will maintain its current pricing structure

Fritz Joussen (pictured), CEO of Tui, has revealed that the company will maintain its current pricing structure

Tui has halved its losses in the past six months as customer recovery continues after the lifting of Covid restrictions

Tui has halved its losses in the past six months as customer recovery continues after the lifting of Covid restrictions

Tui has halved its losses in the past six months as customer recovery continues after the lifting of Covid restrictions

“Over the past six weeks, we’ve seen demand beyond 2019. We want to maintain that momentum, but we are not going to suddenly switch to discounts.’

Tui reported a loss of profit of £525 million for the half-year to 31 March, after a loss of £1.11 billion over the same period last year.

It told shareholders that doing so could return it to a profit by the end of the year.

Expecting a ‘strong’ summer, the operator has already achieved 85 percent of booking levels seen in summer 2019, before Covid led to travel restrictions and devastated the industry.

Tui says the last quarter was “significantly improved” and attributed the boost to the easing of restrictions.

The tour group said its UK operation “continues to lead the way” for summer bookings, which are currently up 11 percent from summer 2019 levels.

Overall bookings for the summer are expected to ‘almost reach’ level from 2019.

Travelers at Manchester Airport line up for check-in counters for Tui flights in Terminal 2 earlier today

Travelers at Manchester Airport line up for check-in counters for Tui flights in Terminal 2 earlier today

Travelers at Manchester Airport line up for check-in counters for Tui flights in Terminal 2 earlier today

A couple takes a selfie while sunbathing on the beach of Las Canteras in Las Palmas de Gran Canaria, on the island of Gran Canaria, a popular destination for vacation group Tui

A couple takes a selfie while sunbathing on the beach of Las Canteras in Las Palmas de Gran Canaria, on the island of Gran Canaria, a popular destination for vacation group Tui

A couple takes a selfie while sunbathing on the beach of Las Canteras in Las Palmas de Gran Canaria, on the island of Gran Canaria, a popular destination for vacation group Tui

It’s being boosted by vacationers who book “more on the short term” and also spend more money on each trip, the company said.

Meanwhile, revenues over the past six months have increased more than fivefold to £3.8bn compared to the same period a year earlier, when the company was still struggling with Covid restrictions.

Mr Joussen said: ‘The high demand for travel and the very good business performance confirm our forecasts.

‘2022 will be a good financial year. Capacity is almost reaching pre-corona level of 2019.

“After a two-year crisis, we expect Tui to return to profitability in the current fiscal year with a significantly positive underlying EBIT (earnings before interest and tax).

“This is the foundation for new growth.”

Source: New feed