Germany´s TUI to Raise Holiday Fares to Offset Soaring Oil Prices

TUI AG may raise the price of package holidays anytime soon in an effort to offset soaring oil prices in the world market that have been hitting the global travel industry quite hard lately, Tagesspiegel am Sonntag reported last week, citing a company spokeswoman.

"We cannot rule out that customers may have to pay higher prices due to extremely high kerosene prices," the spokeswoman said. "If the airlines charge higher prices, we will have to pass the price hikes on to our customers."

Booking for next summer´s package holidays begins in early November, but TUI still sees a double-digit percentage rise in EBTA for its tourism division this year.