TUI bosses have issued an important warning for anyone thinking of booking a last-minute getaway this year.
The travel operator has said it will not be offering any deals for people who book just before they're planning to go. Due to a recovery in customer demand, its chief executive, Fritz Joussen, has said. Mr Joussen said the company will hold its current pricing, unlike in previous years.
He told reporters: "There will be practically no last-minute deals for this summer. Over the past six weeks, we've seen demand beyond 2019. We want to keep that momentum but aren't going to suddenly shift to discounting."
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The travel operator said pricing for this summer has increased by 20%, but bosses stressed that this was driven by longer holidays and more expensive trips including 5-star hotels as many people travel again for the first time since the pandemic.
It came as TUI has more than halved its losses for the past six months as the rebound in customer numbers accelerated and bookings jumped. The company reported an earnings loss of 614.5 million euros (£525 million) for the half-year to March 31, following a 1.3 billion euros (£1.11 billion) loss for the same period a year earlier.
It told shareholders it could return to profit by the end of the year as a result. TUI said it expects a "strong" summer and has already achieved 85% of the booking levels seen in summer 2019, before it felt the impact of the pandemic.
It said the latest quarter was "significantly improved" as the easing of pandemic restrictions helped boost bookings. The travel group said its UK operation "continues to lead the way" for summer bookings, which currently show an 11% increase against the levels seen in summer 2019.
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 almost reaches pre-corona level of 2019.
"After two years of crisis, we expect Tui to become profitable again in the current financial year with a significantly positive underlying EBIT (earnings before interest and tax). This is the basis for new growth."
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