FRANKFURT: German travel giant TUI said Wednesday that bookings were returning to normal levels despite the ongoing Mideast war, as it presented its latest financial results.
Tourism in Europe is experiencing a turbulent summer marked by soaring jet fuel prices because of the US and Israeli war against Iran, as well as heatwaves and wildfires in Spain, France, Portugal and Greece.
Though booked revenue for the summer was down six percent from the same season last year, TUI — the world’s largest travel group — said bookings over the past four weeks had risen seven percent.
The company noted renewed interest in Eastern Mediterranean destinations as holidaymakers return to the region after months of geopolitical uncertainty.
“Business is coming back, it’s normalizing,” chief executive Sebastian Ebel said on an earnings call. “We have seen strong weeks.”
