TUI Places Hopes on Vaccinated UK Travelers to Drive a Summer Recovery
Photo Credit: A TUI Sensatori resort in Ibiza. TUI Group / Mar Torres Photography
Skift Take
TUI managed to keep some hotels open last year, and while they weren't exactly full, it will have learned lessons operating during Covid which could help it snap back quicker than most.
Tour operator TUI is relying on the UK, its biggest market, to lead a bounceback this summer, and predicts growth for its Musement activities app, following a dismal 2021 first quarter.
For the three months to Dec. 31, 2020, TUI's fiscal first quarter, the group reported an underlying loss of $1.21 billion. In that quarter it received another loan, worth $2.18 billion. So far, its bailouts come to almost $6 billion.
For the next quarter it estimates it will burn through $302 million to $363 million per month, and it has $2.5 billion in the bank to see it through until the summer.
Recovery now rests largely on pent-up demand, and its CEO hopes the UK will continue what’s been a strong start to its vaccination rollout, with almo
