TUI AG

A TUI holiday is priced long before the traveller reaches the airport: seats must be committed, hotel rooms must be contracted, customer money must be protected, disruption desks must be staffed, fuel must be hedged, and a destination must still feel safe enough for families to book months ahead. That is why TUI AG matters less as a simple travel seller than as a European holiday risk allocator whose margin depends on aircraft utilisation, owned and committed beds, customer deposits, destination shocks, service labour and the regulatory promise that a package holiday will not leave the buyer alone when something breaks.