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Tui has revealed underlying losses before tax of €27m (£22.8m) for the third quarter of the year as flight cancellations dented its earnings.
However, this still marked an improvement compared with the prior year when it recorded a loss of €669.8m (£566.8m).
The group also saw revenues for Q3 2022 increase to €4.4bn, (£3.72bn), up from €649.7m (£549.3m) the previous year.
Its hotels and resorts business recorded positive underlying EBIT and is already back to 2019 levels, with Q3 earnings at €104.9m (£88.7m) in 2022 compared with €70.3m (£59.4m) in the same period last year.
Revenues for hotels and resorts saw a 250.7% increase to €259.5m (£219.5m) in Q3 2022 compared with €74m (£62.6m) in 2021.
Sebastian Ebel, CFO and designated CEO of TUI group, said: “People want to travel. Holidays continue to top the list of planned spending – this has not changed. Although the entire European airline sector continues to face challenges, we have successfully ramped up our business with a significant increase in demand and achieved a good third quarter.
“This shows once again: our integrated business model is robust. TUI is a strong brand, trusted by holidaymakers and our partners in the destinations. We are consistently tackling the operational challenges of the restart. We want to offer our guests the usual high TUI standards of quality and service.”
He added: “The topics of quality and customer experience are therefore at the top of my agenda. To this end, I will engage in intensive dialogues with the destinations, retail, but also with system partners such as airports and airlines. TUI’s travel summer will be strong, with capacity almost at pre-crisis levels in 2019. We expect a significantly positive underlying EBIT for the full year.”
