The tourism company TUI recorded a record quarterly turnover, supported by stronger customer demand, which drove up the shares of the German company. As shareholders prepare to vote on delisting from the London Stock Exchange, shares rose by 3.2% or 18.50 pence to 598 pence.

In January, TUI announced plans to seek approval for the delisting of its shares from the London Stock Exchange and to make Frankfurt the main marketplace, thus joining the list of companies leaving the British capital.

The Shareholders Will Vote on the Plan Today, Tuesday; If It Is Accepted, the Company Plans to Withdraw from London in June and Move to the Prime Standard Market in Frankfurt, Expected on April 8th. In December, TUI Announced That Some Shareholders Wanted to Review the Benefits of a Simplified Listing Structure.

The Irish Building Materials Supplier CRH, Listed on the London FTSE100 Index, Moved its Main Stock Exchange Listing to New York in September. Flutter Entertainment, Which Owns Brands Such as FanDuel, PokerStars, and Paddy Power, Started Trading in New York on January 29, While Also Maintaining a Secondary Listing on the London Stock Exchange's Main Market.

In the meantime, the British chipmaker Arm Holdings has chosen New York over London for its IPO in case of doubt. For the first quarter of fiscal year 2024, TUI returned to a positive profit before interest and taxes as the number of customers increased by 6% to 3.5 million. The current upward momentum continued, with bookings increasing by 8% year-on-year for both the ongoing winter season and the 2024 season.

The adjusted operating profit amounted to 6 million Euros ($6.5 million) compared to an operating loss of 153 million Euros in the previous year. In constant currencies, the adjusted operating profit was 14 million Euros compared to a loss of 153 million Euros. The quarterly revenue until December 31 amounted to 4.30 billion Euros compared to 3.75 billion Euros and a forecast of 4.14 billion Euros, which was gathered by FactSet based on estimates from two analysts.

The net loss decreased from 122.6 million euros to 256.1 million euros from the previous year. The company reported a total of 9.4 million combo bookings for the ongoing winter season and the 2024 season, compared to 8.7 million in the previous year.

(Note: There seems to be an error in the original sentence because normally a decrease would imply that the net loss has decreased to a smaller number. If 122,6 million was the previous year’s loss, and it is now 256,1 million, this would be an increase, not a decrease. Please verify the correct figures for an accurate translation.)

TUI reported that average prices have risen by 4% for both the winter season and the upcoming summer season, with demand for all major short and medium-haul flight destinations currently up year-on-year.

Spain, Greece, and Turkey were the most popular summer destinations according to TUI. The company reaffirmed that it expects an increase in adjusted earnings before interest and taxes of at least 25% and a revenue increase of at least 10% this year.

"In a persistently challenging environment, people's high willingness to travel signifies strong economic development across all company divisions," said CEO Sebastian Ebel.