TUI AG (LSE:TUI) shares jumped after the travel operator said bookings and trends for Easter holidays confirmed "strong demand" across all markets for sunshine destinations such as the Canary Islands and Egypt.
It expects over 500,000 customers to travel on holiday with TUI over Easter with load factor expected to be in the range of 95% – broadly in line with pre-Covid levels.
Despite current economic uncertainties, the FTSE 250-listed group noted that recent studies support the idea that customers do not want to give up holidays, and that its own booking trends saw customers continuing to book at shorter notice and prefer package holidays and all-inclusive offers.
Chief executive Sebastian Ebel said the recent trends "are a healthy signal for the upcoming summer".
The Anglo-German group, which last month announced a €1.8bn fundraising to cut its debt pile and government loans, said the Canary Islands, Turkey, Balearic islands, mainland Spain, Egypt and Greece remained popular destinations for Europeans at this time of year.
"Booking momentum remains encouraging with strong demand for Easter holidays,” said Ebel. “We anticipate capacities to be close to pre-pandemic levels, we expect a good Summer 2023."
The shares jumped 10% to 611.2p, up 58% so far this year, closing ground on its pre-pandemic share price levels that were closer to £10.