Robust demand for vacation travel coupled with rising prices has boosted profits at the travel group TUI.

In the financial year 2024, which runs until September, underlying operating profit rose by a third to 1.3 billion euros, the company announced on Wednesday. TUI thus met analysts' expectations according to a survey by LSEG. With more than 20 million guests for its package tours and cruises, the world's largest travel provider achieved a good 23 billion euros in turnover, an increase of twelve percent. "We have achieved what we promised," said TUI CEO Sebastian Ebel. "2024 was a very good year for us."

TUI benefited this year from the insolvency of its competitor FTI. Despite the weak economy in its home market of Germany, TUI's most important market alongside the UK, the MDax group expects uninterrupted growth. For the current year, TUI expects an increase in turnover of five to ten percent and an increase in earnings of seven to ten percent in view of the already good booking situation.

(Report by Ilona Wissenbach, edited by Myria Mildenberger. If you have any queries, please contact the editorial team at frankfurt.newsroom@thomsonreuters.com)