TUI AG (LSE:TUI) said that the level of summer capacity is likely to come close to pre-pandemic levels in 2019 though omicron dented its recovery over the New Year.
Summer bookings are around 72% of 2019 levels, though the main impact of omicron was on winter holidays.
Where restrictions have been eased, activity has picked up again it said, with the UK bookings up by 19% since the ending of covid testing requirements
Trading overall showed a marked improvement during the three months to end December 2021, the package tour and airline operator added.
Revenues recovered to €2.4bn from €468mln a year earlier, while underlying losses were cut to €55.5mln from €475mln with the group pre-tax loss almost halved to €387mln.
Around 40% of this increase in revenue came from the Continent, which benefitted from the earlier easing of travel restrictions by the EU.
TUI added its liquidity position was strong following the recent €1.1bn fundraise and it intends to pay back the first chunk of government covid support funding of around €0.7bn in April.