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Tui boss said last-minute deals on ultra-cheap flights are no longer possible in 2023 due to increased demand exceeding supply.

Last-minute deals on ultra-cheap flights will no longer be possible due to increased demand outstripping supply, according to low-cost carrier Tui. Sebastian Ebel, chief executive of the Hanover-based Tui group, said there would be no return to the days when airlines discounted plane tickets to less than €50 (£44) to fill seats.

The head of Europe’s biggest tourism conglomerate has said the cost of air travel has risen by well over a fifth over the past year, or more than twice the broader rate of inflation across the developed world.

Cheap flights no longer possible in 2023, Tui boss warns UK holidaymakers, as demand surges