The travel company benefits from the increased desire to travel. Demand is almost at pre-crisis levels. But the flight chaos robs Tui of its first profit since the Corona outbreak.
The chaos at the airports cost 75 million euros in the third quarter, as the Tagesschau reports. The press release accompanying the quarterly figures states that "irregularities, particularly in British air traffic," led to the additional costs. It is about 200 canceled flights at Manchester Airport. According to the group itself, 96 percent of all guests in the months of May and June got to their holiday destination on time or with a delay of less than three hours.
Without the additional costs mentioned above, the adjusted group EBIT would have been EUR 48 million, making it the first profitable quarter for the Tui Group since the beginning of the pandemic. Although the company was able to increase its sales almost sevenfold to 4,43 billion euros, the adjusted profit before tax for the months of April to June was again negative: a loss of 27 million euros. The group speaks of an "almost balanced quarterly result" and expects a return to the profit zone for the year as a whole.
The remaining figures also give Europe's largest package tour provider every reason to be optimistic. Between April and June, the third quarter for Tui, the number of guests was 2019 percent compared to 84. This means that 5,1 million people traveled with the tour operator in the reporting period. Tui currently has 11,5 million holiday guests for this summer. Group-wide, bookings are 90 percent of the level of summer 2019. According to the company, this value will increase again for the months of July to August.