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Despite many countries easing travel curbs in recent months, companies like TUI may not get as close to pre-Covid metrics as they expected this year. Surging oil prices in the wake of Russia’s invasion of Ukraine will make travel more expensive, complicating any path to a stronger rebound for industry giants.
TUI, the world’s largest holiday company, is seeing a rise in holiday bookings towards pre-pandemic levels, the head of the group’s German business told a newspaper.
“Our customers have some catching up to do,” Stefan Baumert told the Funke group of newspapers.
“We are convinced that we can get close to the level of 2019,” he said, adding he expected travelling to be easier this summer due to fewer restrictions related to the coronavirus pandemic.
TUI last month said summer holiday bookings were approaching pre-Covid levels on pent-up demand, with a steady recovery in Britain since restrictions and testing rules were lifted.
(Reporting by Christoph Steitz. Editing by Jane Merriman)
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