Tui says summer bookings down as Iran war and Jamaica hurricanes hurt profits

Russ Mould, investment director at AJ Bell, said: “Holidaymakers are getting nervous about fuel shortages ruining their week in the sun.

“TUI has flagged that customers are booking closer to departure, which is negative for its earnings visibility.

“It may either see a last-minute rush for deals, or worst-case scenario is that consumers simply holiday at home and TUI loses out.

“The holiday and airline industry is at pains to stress there are no current fuel shortages.

“However, consumers are getting jittery given the US/Iran war rumbles on and oil supplies are not flowing freely.

“There needs to be greater clarity on alternative sources of fuel to the Middle East before the public feels convinced to hit the buy button for their summer holiday.”