TUI Group, the largest travel group in the world, has reported a winter loss of €207 million, a bigger deficit than the same period last year, but remains confident in its full-year profit forecast as it turns its attention to the key summer season.
The Hanover-based travel giant closed the second quarter of its fiscal year, covering January to March, with an underlying EBIT (earnings before interest, taxes, and exceptional items) loss of €207 million. This compares to a €189 million loss during the same period in 2024.
The company attributed part of the decline to the timing of Easter, which fell in April this year, compared to March last year, an adjustment TUI estimates had a €32 million impact on its quarterly results.
Despite the seasonal downturn, TUI’s revenue during the period rose slightly to €3.71 billion, up 1.5% from €3.68 billion a year earlier. Winter losses are common in the travel industry due to lower demand during the colder months.
Looking Ahead to Summer
With the first half of the financial year now complete, TUI is looking ahead to the summer with optimism. The group is maintaining its full-year forecast for revenue growth of between 5% and 10%, and expects underlying EBIT to rise between 7% and 10%.
“The environment has been challenging, and the second half of the year will also remain demanding for Europe’s overall economy,” said TUI CEO Sebastian Ebel. However, he expressed confidence in the company’s integrated and diversified business model, adding, “Our focus is now on the critical summer season.”
Bookings for the summer are currently down 1% compared to last year, but the company has kept capacity steady. Encouragingly, average prices are up by 4%, suggesting stronger margins ahead.
