Tui Group said summer trading was in line with expectations, with demand for Spain, Greece and the Caribbean helping to offset a drop in demand for Turkey and North Africa.

The operator reported an 8% rise in revenue for the six months to the end of March compared to last year, while customer numbers were up 4%.

Group losses were down year on year at €308.6 million compared with a loss of €394.6 million last year and chief executive Fritz Joussen said the group remained on target to increase its earnings by 10% this year.

Joussen, said: “Our transformation to an integrated tourism business is on track. We are delivering strong growth in our hotel and cruise brands.

“These two segments contribute half of our operating result on a full year basis.  The Tui Group is changing quickly – our guidance remains unchanged despite a challenging environment. We reiterate our guidance to deliver at least 10% growth in underlying EBITA this year.”