Tour operator Tui forecasts strong summer despite wildfires in Europe

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Tui has forecast a strong summer despite wildfires in southern Europe as the German travel company chalked up its first profitable third quarter since the pandemic, with demand and prices rising.

The company reported earnings before interest and tax of €169.4mn in the three months to the end of June, up from a loss of €27mn in the same period last year. Revenues were €5.3bn, up by a fifth year on year, it said on Wednesday.

Tui forecast summer holiday bookings would be 6 per cent higher than last year despite the wildfires that have affected southern Europe.

“The financial impact of the wildfires in recent weeks covering cancellations and lost margin, customer compensation as well as repatriation flights and welfare costs has added €25mn of cost to our full year 2023 results,” the company said.