Iran war and high living costs fuelling last-minute holiday bookings, Tui says

Middle East conflict has cost Europe’s largest travel firm €60m so far, and timing of decisions over trips has shifted Holidaymakers are waiting until the last minute to book their trips because of the continuing uncertainty caused by the war in Iran and the cost of living crisis, according to Tui , Europe’s largest travel company, which said the war had cost it €60m (£51m) so far. In the weeks after the outbreak of the war at the end of February, Tui recorded a temporary drop-off in customers wanting to travel to Cyprus or Turkey, in what the company called a “volatile market”. Tui’s chief executive, Sebastian Ebel, said: “Travel remains highly relevant to people’s lives, but the timing of travel decision has shifted. They were unable to continue their journeys through the strait of Hormuz , leading to the ships being out of service for 12 weeks. And of course, when the ship is not cruising, you don’t have the income,” Ebel told reporters.

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