Hanover (dpa) – Travel giant TUI is expecting its summer business to be strong despite the Omicron coronavirus variant, the company said Tuesday as it released first-quarter figures.
The firm plans to pay back the first part of the state aid it received from the German government to help it through the pandemic.
Around 0.7 billion euros of coronavirus crisis cash is planned to be repaid.
“The demand for travel is high across all markets,” according to chief executive Fritz Joussen.
“The path out of the pandemic is becoming ever clearer.”
In the first fiscal quarter until the end of December, TUI generated 2.4 billion euros of revenue – around five times as much as a year earlier.
TUI typically expects a loss in the winter months, but the group was able to roughly halve its seasonal loss from 780 million to 384 million euros. However, it was still a higher loss than analysts had expected.
The Hanover-based company was plunged into crisis by the coronavirus pandemic and related travel restrictions and is backed by millions in state aid.
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