Tui boss Sebastian Ebel thinks the time for cheap flights is over and sees fewer chances for last-minute bargains this summer. “In 2023 there will be no “last-minute summer” like there used to be,” said the head of the world’s largest travel group of the “Bild am Sonntag”.
“On the contrary: Shortly before departure, the prices will tend to be higher rather than cheaper, because the hoteliers and airlines also know that there are still a lot of bookings at short notice. Spontaneous bargains will be the absolute exception.”
In the case of air travel, there is also the reduction in capacity at the airports. “The demand for holiday flights in particular exceeds the supply. That’s why these cheap offers, with isolated exceptions for marketing campaigns, will no longer exist as they used to,” said Ebel.
The travel company got into trouble during the pandemic, but claims to have bottomed out. “We will make a profit this year. We have paid back the state aid in full in the last few days,” said Ebel.
The state economic stabilization fund (WSF) and the state-owned development bank KfW had saved Tui from going under after the business slump as a result of the corona pandemic with capital injections, bonds and credit lines totaling around 4.3 billion euros. From the point of view of the WSF, the group has now left its pandemic-related problems behind.
