- Many holiday travel firms are anticipating a bumper weekend for summer holiday bookings this year.
- Travel companies such as On the Beach and TUI said it would be their busiest period.
- Demand rose following the scrapping of testing rules for fully vaccinated arrivals in the UK from 11 February.
Several holiday travel companies are expecting a bumper weekend for summer holiday bookings in 2022.
UK travel company On the Beach’s CEO Simon Cooper stated that the upcoming days are anticipated to be the busiest period in the company’s history. TUI, one of the biggest tour operators in the country, had a similar refrain. The company said that this is expected to be the biggest bookings weekend for the operator since the onset of the pandemic.
Earlier this week, the UK government said that covid-19 testing for fully vaccinated travellers arriving in the country will be scrapped starting from 11 February, which had led to a boost in demand.
Additionally, holiday sales are forecasted to see a sharp rise this weekend, as this is the first salary pay-out day for millions of people since Christmas.
Let us look at the 2 aforementioned holiday travel stocks, which are FTSE listed, and see how they are faring on the stock market:
- TUI AG (LON: TUI)
TUI is a Germany-based travel and tourism company and is a part of the FTSE 250 index.
The company’s Q4 2021 revenue rose to EUR 3.4 billion, compared to EUR 1.2 billion in Q4 2020. It attributed the sharp rise to the success of vaccination programmes, the rebound in leisure travel, especially in the summer period across continental EU, etc.
Its Q4 2021 reported EBIT stood at EUR 34 million, reversing from losses of EUR 725 million in Q4 2020.
Image source: Refinitiv
The company’s shares were trading at GBX 251.80, down by 1.37 per cent on 28 January 2022 at 08:28 AM BST. The FTSE 250 index was at 21,650.29, down by 0.94 per cent.
The company has a market cap of £4,143.30 million as of date.
- On The Beach Group PLC (LON: OTB)
On The Beach is a British online travel retail company for beach holidays.
The company’s adjusted gross profit, for the year ended on 30 September 2021, stood at £23.3 million. It was at £53.4 million in the year before.
During the period, adjusted group revenue stood at £30.5 million. It was at £71.2 million in the previous year.
Image source: Refinitiv
The company’s shares were trading at GBX 294.50, down by 2.97 per cent on 28 January 2022 at 08:56 AM BST. The FTSE All-Share index was at 4,199.66, down by 0.74 per cent.
The company has a market cap of £503.17 million as of date.