Tourism FTI bankruptcy brings Tui significantly more summer guests
The travel group Tui benefited from the bankruptcy of its competitor FTI in the summer. The insolvency of Europe's third-largest tour operator boosted bookings for the industry leader.
24.09.2024, 10:03
SDA
In the summer program, Tui recorded six percent more guests for package tours than in the previous year, as the Group announced in Hanover. Average prices climbed by 3 percent.
In Germany, Tui sold 10 percent more tours than in the previous year and attributed this directly to the insolvency of FTI. Following the bankruptcy of what was once Europe's third-largest tour operator, the market leader had significantly increased its own offering.
For the current financial year (as at the end of September), Group CEO Sebastian Ebel believes the company is on track to increase its operating profit adjusted for special items (adjusted EBIT) by at least a quarter. In the previous financial year 2022/23, Tui achieved an EBIT of 977 million euros. In the coming years, adjusted operating profit is expected to increase by an average of 7 to 10 percent annually as announced.
