Tui reports losses; predicts strong summer season

After reporting underlying losses of €273.6 million for its first quarter to the end of December, narrowed from losses of €675.8 million a year ago, holiday group Tui has predicted a strong summer season thanks to pent-up demand as travel restrictions ease. The group reported revenues up five-fold to €2.37 billion from €468 million a year ago, helped by surging prices – up 22% for summer trips and 15% higher for winter holidays. Tui also reports strong booking momentum across all markets with new bookings for summer 2022 now above pre-crisis levels. Tui said the Omicron variant of coronavirus was