BUSINESS NEWS


Ryanair says ‘demand remains robust’, while Tui has ‘confidence this year is not lost’


Outlook for the year still clouded by Gulf conflict


ANALYSIS: Trading updates from Tui and Ryanair reveal impact of war but operators buoyed by late-booking demand and jet fuel supplies, says Ian Taylor


The short-term impact of the Gulf crisis on travel is becoming clearer but its extent by the time there is any sort of medium-term stability remains impossible to predict. As the head of European airports


association ACI Europe, Olivier Jankovec, put it last week: “Past the peak summer months, the traffic outlook is a black box. It hinges on geopolitics and the fallout of the oil crisis.” The US war on Iran could resume


at any moment. US President Donald Trump announced this week that


48 21 MAY 2026


he had suspended a military attack scheduled for Tuesday at the request of US allies in the Middle East – hardly a promising sign of peace. The president warned last week “the clock is ticking” on any deal. Tui gave an upbeat account of its


half-year results to the end of March last week, describing it as a “strong first half” which “provides momentum for a challenging second half”. Yet the group reported booked


revenue for the summer in its tour operating division down 7% year on


year overall and 10% down in the UK. Tui blamed “the impact of the Iran war [and] a shift in customer demand from eastern to western Mediterranean destinations, with customers demonstrating increased caution and booking closer to departure dates” and confirmed it had cut capacity by 4%. However, chief executive Sebastian


Ebel noted short-term bookings “are extremely strong” and insisted: “This


Continued on page 46 travelweekly.co.uk


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