The German travel group TUI receives many bookings for sunny destinations during the autumn and winter holidays. According to TUI, there are incredibly many bookings in Germany.
The company says that travel is picking up strongly again now that restrictions against the coronavirus have mostly been lifted. There are also many early bookings for the summer of 2022.
According to the largest travel organization in Europe, trips are often booked for the winter period to the Canary Islands, the Spanish mainland and Egypt. TUI also offers winter sports holidays. The company expects its capacity to be 60 to 80 percent of its normal pre-crisis level for the coming period.
For the summer of 2022, 1.6 million bookings have already been received, mainly to Cyprus, Turkey, Greece and American Florida. TUI thinks that the level of travel of 2019, i.e. before the pandemic, will be almost matched next year. In the summer months of July and August of this year, more than 2.6 million people travelled with TUI, which was a doubling compared to 2020.
TUI also announced that 1.1 billion euros in new shares would be issued to raise money to reduce debt. According to CEO Friedrich Joussen, this move will give the company additional opportunities to take advantage of business opportunities created by the relaxation of travel restrictions. The new shares will be issued to existing shareholders, including major shareholders Unifirm. TUI also wants to reduce its interest charges.