TUI still short of pre-pandemic booking levels

A negative reaction to TUI’s first-half results may be the fact summer bookings still haven’t quite recovered to pre-pandemic levels.

“They may not be far off but investors have had to wait some time for a proper recovery and they backed the company in a big fundraise recently so patience may be starting to wear a bit thin.

“Bookings are up and, for now, the company is able to pass higher cost on to holidaymakers. However, people’s capacity to spend on jetting away looks set to continue to be tested given persistent inflationary pressures,” AJ Bell’s Russ Mould.

“Competitive pressures also remain, with Jet2 taking TUI’s mantle as the biggest package holiday firm in the UK this year, and there is definitely no room for complacency.”