The travel company Tui announced on Tuesday in Hanover that the Iran war has significantly altered the travel behavior of many vacationers. An increasing number of travelers are opting for last-minute bookings and prefer destinations in the western Mediterranean, such as Spain and Greece.
Particularly concerning is that nearly half of the consumers who planned to travel this summer have yet to make a booking. Tui expects demand for trips to the Balearic Islands and Canary Islands, as well as Greece, to rise.
The uncertainties stemming from the Iran war are also affecting pricing. Tui has reported higher average prices at its own hotels and for cruises. Despite these challenges, the company maintains its forecast for the 2025/26 financial year, which was already lowered in April.
The adjusted operating profit (adjusted EBIT) is still expected to be between 1.1 and 1.4 billion euros, aiming to come as close as possible to last year's level of 1.4 billion euros. The originally anticipated revenue growth of 7 to 10 percent has already been abandoned.
In the first half of the financial year ending in March, revenue remained at 8.56 billion euros, slightly below the previous year's level. The seasonally adjusted operating loss decreased by more than a quarter to around 116 million euros, despite the pressures from the Iran war and Melissa in Jamaica. The war in the Middle East impacted results by about 40 million euros, while the hurricane cost an additional 5 million euros.
Overall, 12.8 million guests traveled with Tui, marking a slight increase compared to the previous year.
