TUI AG (LSE:TUI) saw profits jump by more than a third in its latest quarter as it cashed in on the recent collapse of German rival FTI.
Underlying earnings jumped 37% to €232 million (€169 million) in the quarter to end June, well ahead of forecasts beforehand of €217 million.
Guidance for a 25% increase in operating profit this year and 10% growth in revenues was also reiterated.
TUI added it hadn't seen any bookings slow despite rising prices for its flights and packages by around 3% with sales of packaged hotels cushioning it from lower prices reported by airlines such as Ryanair.
Shares in TUI, now listed in Frankfurt after the group gave up the London listing it inherited when it took over UK group Thomson, were flat at €5.57.