Travel giant TUI Group reiterates its forecast of underlying EBITA growth of at least ten percent during the 2018 financial year, which ends on September 30.

The company made the announcement in its trading update just days after rival Thomas Cook was forced to issue a profit warning due to a hot summer, with many customers opting to spend their holidays at home instead.

TUI says that they too have been limited in their performance due to the hot summer, but that they have managed to counter this with new offers for hotels and travel. The number of customers who have purchased travel from the company has thus increased in all markets, it says.

TUI adds that it currently has a balanced destination portfolio and that it has benefited particularly from returning demand for Turkey and North Africa as well as increased demand for Greece.

TUI will release its year-end report on December 13.

Source: finwire