TUI AG said, as it approaches its 2015/16 year end, it is confident of delivering 12%-13% growth in underlying EBITA. "This demonstrates the strength of our integrated business model and the success of our content centric strategy, as well as the continued delivery of our merger synergies," said CEO Friedrich Joussen. "We are continuing to deliver our strategy as a content centric, vertically integrated tourism group," it said. "The Summer 2016 season is almost fully sold, with a continued strong performance by the UK, Riu and Cruises, the launch this Summer of two additional cruise ships and the opening of five additional hotels in our core brands. Winter 2016/17 is trading in line with our expectations, with further growth driven by long haul. "In addition, we are pleased to have announced the completion of the Hotelbeds Group disposal on 12 September and marketing of Travelopia (formerly part of Specialist Group) has commenced." CURRENT TRADING "Summer 2016 trading remains in line with our expectations. 97% of the Source Markets' programme has been sold to date, in line with prior year, with revenue and bookings up 1%," the CEO added. "As expected, demand for Turkey remains lower than prior year, however, Source Market bookings excluding Turkey are up 7%, proving the sustained strength in underlying demand for our package holidays and the flexibility of our model in our ability to remix capacity. "We are continuing to build on our direct relationship with our customers, with controlled mix up one percentage point to 72% and online mix up two percentage points to 43%."
+1.00p (+0.09%)delayed 18:15PM