German travel conglomerate TUI said its markets and airlines business’ earnings went up by €138 million in the fourth quarter of the year up to the end of September 2022. “All regions contributed”, TUI Group said, to what was “a first positive underlying EBIT [earnings before interest and tax] since the start of the pandemic”. Fourth quarter 2022 revenue improved by €4.2bn to €7.6bn. Excluding the impact of flight disruptions costs of €58 million, TUI’s EBIT was €1.1bn for the quarter. The rise was driven by the release in 2022 of “pent-up demand for holiday travel”, which had been suppressed
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