Before interest and taxes and adjusted for other factors, the TUI Group earned €409 million ($434 million), according to fiscal year figures released Wednesday, compared to the more than €2 billion lost in 2020-21.
Hanover-based TUI still posted a loss attributable to shareholders of €277 million in the 12 months ending in September.
Revenue at the world’s largest holiday travel agency almost quadrupled to €16.55 billion from €4.73 billion.
TUI has benefited from the resurgence in travel demand, and prices for many vacation packages have increased. “The summer was strong,” CEO Sebastian Ebel said.
For fiscal 2023, the group – which comprises travel agencies, online portals, airlines, hotels and cruise ships – expects a strong increase in revenue and a significant increase in underlying EBIT.
