TUI Opens Its Own Fleet to Rival Tour Operators as Winter Bookings Shift East

TUI will sell surplus seats on its own aircraft to rival tour operators from summer 2027, as winter demand tilts to Thailand and Cape Verde.

TUI is preparing to rent out spare seats on its own aircraft to competing travel companies, a move that turns a cost centre into a revenue stream just as the tour operator leans harder on long-haul demand to carry it through the colder months.

From the summer 2027 flight schedule, outside tour operators will be able to book unused capacity through Calisto Air, a platform TUI Airline has brought into service together with the start-up Airxelerate. The group is budgeting 17 million seats for that summer programme. By selling surplus inventory on the open market, TUI can smooth out the seasonal swings that have long dogged its in-house carrier while spreading the fleet's fixed costs across a wider base of customers.

Winter Demand Tilts Toward Thailand and Cape Verde

The strategy lands as TUI's winter 2026/27 season takes shape. Long-haul travel is drawing strong interest, with Thailand and Cape Verde emerging as key booking drivers alongside the traditionally dependable Canary Islands, which remain the flagship destination in the winter line-up. TUI Austria points to Spain and Egypt as particularly sought-after destinations for the same period, while in Germany demand for far-flung trips is picking up again — though travellers are increasingly making their decisions at short notice.

To capture a broader slice of holidaymakers, the company has rolled out a new product concept, "Dine & Discover." Alongside it, TUI is preparing to launch its own loyalty scheme, the Smiles Rewards Club, on 13 October across Germany, Austria and Switzerland. More than one million members have already registered, according to company figures.

Boardroom Signals and a Succession Plan

Confidence at the top has been backed with cash. Chief executive Sebastian Ebel bought TUI shares worth EUR 32,650.00 on 22 September, and Sybille Reiß, the board member responsible for personnel and labour relations, acquired stock worth EUR 12,800.00 the same day, per a mandatory disclosure. The secondary source dates both purchases to 23 September.

Succession at the supervisory board is also being settled well ahead of time. Shareholder and employee representatives unanimously agreed to put Johan Lundgren forward as the next chairman, to take over from Dieter Zetsche when his term ends in February 2027.

Analysts Trim Targets but Keep Their Faith

Brokerages have been adjusting their numbers without losing their appetite for the stock. Barclays cut its price target on Friday to EUR 8.75 from EUR 9.75 while sticking with an "Overweight" rating. Deutsche Bank Research had already trimmed its own target to EUR 10.10 from EUR 10.50 on 23 September, keeping a "Buy" recommendation.

The backdrop remains demanding. Roughly two weeks ago TUI narrowed its guidance for adjusted EBIT to a range of EUR 1.2 billion to EUR 1.3 billion at constant currency, down from an earlier EUR 1.1 billion to EUR 1.4 billion. Management pointed to the strain from the Iran war and a marked shift toward shorter booking windows; the revenue forecast stays suspended. Even so, the refined outlook suggests the core business is holding steady, anchored by robust bookings in the holiday experiences segment. For investors, the winter programme's margins and capacity utilisation will be the measures that matter.

What Comes Next

A fuller picture of the group's financial health arrives on 9 December 2026, when TUI reports results for the past financial year.

On the market, the stock closed Friday at EUR 6.88, a gain of 0.8% on the day and 3.3% over seven days. Since the start of the year, however, the shares are down 23%. The combination of fresh booking incentives and a wider market for the group's aircraft is meant to put the price back on firmer ground over the medium term.