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TUI Travel Sees Germany Bookings Surge

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Travel and tourism group TUI Travel expects higher profit in Germany in the current financial year ending in September after making strong gains in pre-Christmas holiday bookings, Frankfurter Allgemeine Zeitung reported.

"The early-booking wave is reaching us sooner than in past years," Christian Clemens, chief executive of TUI Deutschland was quoted by the newspaper as saying in an interview.

Clemens saw higher profit after double-digit percent gains in holiday bookings in the two weeks before Christmas compared with year-ago levels, Frankfurter Allgemeine Zeitung said.

TUI Deutschland is a subsidiary of TUI Travel. German travel and tourism group TUI AG owns a 54.48 percent stake in London-listed TUI Travel.

Earlier this month, TUI AG reported a 2 percent increase in underlying earnings before interest, tax and amortization (EBITA) for its total business in the 2012-13 year.

It said underlying EBITA should increase 6-12 percent in the current business year, while turnover would rise 2-4 percent.

(Reuters)

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