TUI reporting record revenues as post-pandemic recovery continues
Strong revenues for the last three months of 2023 was a sign that the post-pandemic travel boom was retaining its momentum, according to TUI AG.
The hotels and resorts division and cruises and airlines all delivered a significantly improved picture. The numbers come ahead of the company’s plans to delist from London.
(AI Video Summary)
TUI Q1 results looking strong
TUI, a European travel company, has just released its financial results for the first quarter of 2024, and they're looking pretty strong. In fact, they've raked in a record-breaking 4.3 billion euros in revenue. TUI is feeling so good about these numbers that they're confident they can increase their earnings by at least 25% by the end of the year.
TUI has seen major growth in their hotels and resorts, cruises, and airlines businesses. It seems like people are itching to get back out there and explore the world after being cooped up at home for so long. Even though TUI's share price dropped by 11% recently, it's already bouncing back. In fact, it briefly shot up to the same high point it reached on 2 January before settling back down a bit.
TUI planning to delist from London markets
Now, TUI is planning to delist from the London markets and report solely from Frankfurt. This might be why the share prices in London have been a little up and down lately. But even though the London-listed shares aren't quite as high as they were before, TUI is still doing great. They're making up for lost ground and thriving despite all the challenges brought on by the pandemic.
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