TUI Bets Big on Taking Thomas Cook Market Share
Photo Credit: TUI Blue Ephesus in Turkey. TUI Group is adding capacity this summer. TUI Group
Skift Take
TUI CEO Fritz Joussen sounded much more upbeat than he did last December. While the Max grounding continues to cause problems for the company, holiday bookings for summer 2020 have grown. For now, it thinks it has the edge on its remaining competitors.
TUI Group is ramping up capacity for its summer 2020 holiday program as it looks to take market share from the bankrupt Thomas Cook in a number of markets.
The Hanover-headquartered company reported a strong improvement in trading for the upcoming season with revenue and passenger numbers all making double-digit increases.
To cope with the increase, TUI plans to add a further 21 extra aircraft to its fleet taking the total number north of 170. The aggressive move comes despite the challenges regarding the grounded Boeing 737 Max aircraft, which continue to weigh on earnings.
“I think we will be gaining market share versus everybody else," Fritz Joussen, TUI CEO, said on a call with journalists on Tuesday.
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