The travel industry has struggled in complete darkness during the coronavirus pandemic, but the rapid development of a vaccine has increased optimism, and the German tour operator believes that the vaccine will boost travel demand next year.
TUI is delivering this message at the same time as the tour operator reports an annual result for the broken financial year, which ended in September, of minus three billion euros, equivalent to around 31 billion kronor. This compares with a profit of 416 million euros the previous year.
Total revenue plunged 58 percent to 7.9 billion euros.
”"The pandemic is not over, but there is a light at the end of the tunnel and the outlook for tourism and TUI is good," TUI said in a press release.
By 2022, TUI expects to be back at the same levels as before the corona pandemic.
TUI has received large support packages from the German government but has also received new capital from investors. During the year, the workforce has also been reduced significantly.
