2024.02.18
Source: Travel Daily News
The TUI Group has started the new financial year with a strong operating performance. 3.5 million guests travelled on vacation with TUI in Q1 2024 (October to December 2023), driving a 15 percent increase in Group revenue to 4.3 billion euros (Q1 2023: 3.8 billion euros). For the first time1 in the company’s history, underlying EBIT was positive at six million euros in this quarter, which is normally negative due to seasonal factors. In a persistently challenging market environment, TUI benefited from the sustained demand for travel with higher prices and rates.
TUI CEO Sebastian Ebel said: “We remain on course, transforming the Group and growing. The measures we have introduced are taking effect. We are accelerating our transformation quarter by quarter. Operational excellence, agile and flexible actioning and the consistent implementation of our programs are important. In addition, people’s willingness to travel is still high, despite a market environment that remains challenging. We are thus creating the basis for TUI’s future profitable growth. And it confirms our expectations for the year as a whole: We want to increase revenue by at least 10 percent and operating earnings by at least 25 percent.”
Development of the First Financial Quarter 2024
3.5 million guests travelled with TUI in the first quarter of the financial year 2024 – that is six percent or 200,000 more than in the previous year (3.3 million). At 87 per cent, the load factor was one percentage point higher than in the previous year. Due to people’s high willingness to travel as well as higher prices and rates, the underlying operating result improved by 159 million euros and was positive for the first time at six million euros (previous year: -153 million euros). The first two quarters of the financial year (October to March) are usually negative for the industry due to seasonal factors. Revenue also improved significantly, increasing by 15 per cent to 4.3 billion euros (previous year: 3.8 billion euros).