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Tui losses narrow but it weighs up cuts to winter travel schedule
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theguardian.comThe travel company Tui has narrowed its annual losses but is reviewing whether to make cuts to the remainder of its winter programme in light of rising coronavirus cases and the spread of the Omicron variant.
Posting a €2.4bn (£2.1bn) loss for the year to the end of September, down from €3.5bn the year before, the group said it was close to breaking even in the final quarter of its financial year.
The company said the first quarter of its new financial year was 93% booked, based on lower winter capacity projections, although still 31% below pre-pandemic levels.
Its chief executive, Friedrich Joussen, expects the holiday market will recover to pre-pandemic levels next summer. “It is still too early to make a real forecast for the 2022 summer
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