TUI sees summer travel demand 'significantly' lifting 2023 profit

German travel firm TUI said it expects strong revenue and higher profit in 2023 on the back of a jump in summer bookings, despite the risk of travel disruption triggered by strikes. Airlines such as Lufthansa, easyJet and Ryanair have all pointed to robust summer bookings, showing consumers prioritising travel spend despite high inflation and an uncertain economic outlook. Bookings for the summer have jumped 13% compared with the same period last year and reached 96% of bookings in the summer of 2019, the last summer before COVID-19 restrictions hit. Average prices for summer trips are up 5% over last year. “It will be a strong summer and a good financial year 2023 with a significantly higher operating result,” CEO Sebastian Ebel said in a statement. Many European carriers are wary of potential strikes, particularly by air traffic controllers in France, as they fear further delays akin to last summer, where much of the continent was impacted by travel disruptions.<br/>