FY profit at 977 mln euros
Sees 2024 profit up 25
Considering London delisting
Shares up 8

LONDON, Dec 6 Reuters Europe39;s biggest travel operator TUI forecast operating profit would jump 25 in 2024 after it more than doubled this year on strong demand for holidays, cruises and hotel stays, lifting its shares 8.

TUI, like competitors easyJet and Jet2 has benefited from soaring demand this year as part of a pandemic bounceback in travel, but war in the Middle East and the threat of recession have prompted analyst warnings that profits may have peaked.

Reporting annual results on Wednesday, TUI said its current bookings were strong, although it noted that there had been a temporary slight slowing in demand for trips to Egypt due to the conflict in the Middle East.

Overall, however, and against the background of the current macroeconomic situation and geopolitical uncertainties, it said bookings for this winter and next summer gave it confidence that operating profit would grow by at least 25 in this financial year on revenue at least 10 higher.

Our strategic initiatives to increase value and the current booking trend lead us to expect a further improvement in 2024, TUI39;s chief executive Sebastian Ebel said on Wednesday.

The company39;s shares were up 8 at 552 pence by 0820 GMT, hitting four month highs.

TUI said bookings for next summer, the period when the group makes most of its profit, were currently up 13 on last summer with average prices up 4.

For the…