TUI reports travel bookings rebounding despite ongoing Middle East conflict
TUI said bookings are returning to normal levels even as the Middle East war continues, while its quarterly profit fell sharply.
TUI announced that travel bookings have begun to recover, with a 7% increase over the past four weeks, suggesting a return to pre-conflict levels. Summer booked revenue remains 6% below the same period last year, and the firm posted a net profit of 124.2 million euros, down 44.7% from the prior year. The ongoing Middle East war has pushed up jet fuel prices, affecting airlines and cruise lines, and forced the repatriation of 10,000 travelers earlier in the year.
Hotel occupancy fell 3% in the quarter, an improvement from a 6% decline earlier. CEO Sebastian Ebel highlighted growing demand for Eastern Mediterranean destinations and said hotter summers could boost bookings in shoulder seasons.
Why it matters
TUI's recovery signals resilience in European tourism despite geopolitical tensions and higher travel costs.
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