Due to travel restrictions being eased last month, the UK is not experiencing the same summer recovery as other Tui source market countries.Europe's largest travel agency reported total bookings of 4.2 Million for summer 2021. Average prices were nine percent higher than in pre-pandemic 2019. This is due to high levels of package holidays.Capacity has been increased to 60% from the levels of 2019.Other than the Balearic Islands, the most visited destinations are the Greek islands, particularly Crete and Rhodes.More: Tui updates summer travel cancellations and resumptionTui extends credit repayments of 4.7 billion by two yearsTui sells 670m of Riu Hotel Properties stakeFor the first time since the outbreak, the group has seen positive cash flow before financing in excess of 320 million.However, Tui posted a loss of 670 millions in its third quarter with revenues of 650million.The company stated that travel cannot be resumed in all countries and in all destinations due to continuing restrictions.According to the company, booking momentum rises significantly when travel restrictions are reduced. Since May's half-year figures, Tuis has received approximately 1.5 million bookings.Fritz Joussen, chief executive, stated that the Tui brand and our business model remain successful and will ensure a successful restart. As soon as the state travel restrictions are lifted, customer demand and booking momentum will continue to be high.We are most successful when the state allows normal entrepreneurial freedom to be restored. However, states that restrict entrepreneurial freedom and intervene in bookings can have a negative impact on our ability to book.The numbers are encouraging with one and a quarter million more bookings since May, and a total of over four million bookings for summer business. The current booking figures indicate a high level of demand, especially in Germany and the European continent.Travel in England could not be resumed until mid-July. The fourth quarter will reflect the demand and bookings in England. Tuis transformation clearly has an impact on business.He said: It is important to abandon the rigidity of considering incidence levels as a measure for the pandemic. Covid will likely be as common as other infectious diseases. It is important to reduce the severity, contagions and consequences of a disease.Europe offers vaccinations to anyone who wishes to get vaccinated. Severe disease progressions are not noticeable and the health system is not overburdened in Europe. This is a huge success for the vaccination campaigns.Vaccination protects. Vaccinated people are not a risk to others. People who aren't or hardly at high risk should have their freedoms fully restored. This is particularly true for young children and adolescents, who are exempt from the requirement to get vaccinated.It is a personal choice whether one chooses to get vaccinated. But, it is not right for a few to set the pace or restrict the daily life of the majority.52 percent of customers booked their holiday online during the quarter. This is a continuation of a trend that has grown significantly since the pandemic.During the review period, 283 Tui hotels and 8 of the cruise ships in the group were open.In the last three months, the group has taken various refinancing steps to strengthen its capital structure. This includes the sale of 21 hotels.Last month, 19 international banks and the German state group KfW reached an agreement to extend the maturity period of revolving credit agreements totalling 4.7 million euros through summer 2024.Tui said that the group has more flexibility and time to execute the refinancing plans, given ongoing corona restrictions. The goal is to quickly repay the state loans.More: Tui updates summer travel cancellations and resumptionTui extends credit repayments of 4.7bn by two yearsTui sells 670m of Riu Hotel Properties stake
