Holiday Giant TUI Counts on U.K. Vaccines to Rescue Summer
- Tour operator risks running out of cash without demand rebound
- Britain mandates two Covid-19 tests on arrival for passengers
This article is for subscribers only.
TUI AG stuck with plans to offer four-fifths of its usual holiday program this summer, betting on a surge in demand from Britain to fill hotel rooms as the country’s Covid-19 vaccination program gathers pace.
The world’s biggest tour operator said Tuesday that while current sales are at only 56% of 2019 levels, average prices are higher and customers are sitting on savings with money to spend, suggesting there’ll be a late surge in bookings as more people get jabs.