Despite a €1.3bn loss, Tui has said it sold 2.6m packages ahead of the summer and is feeling confident.
From October 2020 to March 2021, the group reported a €1.3bn as Covid restrictions banned travel.
Sales in the same period fell from €6.6bn to €700m.
Fritz Joussen, Tui’s chief executive, said: “The prospects for early summer 2021 make me optimistic for tourism and for Tui. They are significantly better than in the first pandemic year, 2020.”
As the travel industry is preparing to reopen, the group said Spain’s Balearic and Canary islands and Greece are expected to be top of the list for travel destinations this summer.