The world tourism leader TUI sharply reduced its net loss in the third quarter of its last fiscal year, thanks to the recovery of travel after the covid-19 pandemic.
In the April-June period, the group posted a loss of €356.7 million ($364.4 million), after shedding a €934.8 million loss in the same period a year earlier.
Turnover reached 4,430 million euros, almost seven times more than in 2021. The number of travelers in the period reached 5.1 million, an increase of 84% from 2021.
“Although the entire European airline sector continues to face challenges, we have successfully underpinned our business with a significant increase in demand,” TUI President Sebastian Ebel said in a statement.