FLY-AWAY BRITS RAISE TUI HOPES OF PROFIT THIS YEAR

HOLIDAY giant Tui is hoping to turn a profit later this year as desperate Brits jet off on holiday.

The Anglo-German tourism firm reported a sixfold rise in revenues to £3.8bn for the six months to the end of March. But it still lost £605m.

However, this was less than half the £1.3bn lost in the same period 12 months earlier. Chief executive Fritz Joussen said: ‘The high demand for travel and the very good business performance confirm our forecasts. 2022 will be a good financial year.

‘After two years of crisis, we expect Tui to become profitable again in the current financial year.’ But sudden demand is crippling understaffed airlines. Tui also noted the risk that higher fuel prices are here to stay.

Julie Palmer, a partner at business recovery specialist Begbies Traynor, said: ‘With inflation already at a rate not seen in decades, holidaymakers are facing eye-watering prices for foreign trips when household finances are under severe pressure.

‘This, coupled with staffing shortages across the industry and some lengthy delays at airports, may persuade cash-strapped vacationers to think twice about a trip to the sun.’