The summer vacation season is looking up for Greece, it appears, as travel giant TUI says that advance bookings for Greek vacations have performed well despite the current travel restrictions.
In fact, Greece might see the first UK holidaymakers as soon as April, according to TUI boss Fritz Joussen, who said on Tuesday that “the usual suspects”, summer vacation destinations such as Greece and Spain, were attracting an impressive number of bookings already.
Huge “pent-up demand”
TUI reported its fourth-quarter 2020 results on Tuesday, posting an adjusted loss before taxes of nearly €700 million in revenue, which represents a staggering 88% drop in profits from €3.85 billion to €468.1 million in the last three months of last year.
CEO Fritz Joussen maintains that there is a great deal of pent-up demand for journeys abroad, stating “People are sitting on their suitcases and are waiting for what opens first. We just fly wherever is open.