TUI extends credit line


TUI extends credit line

Sunday, 26 May, 2023 0

TUI has successfully extended its existing credit lines of €2.7 billion by a further two years.

The syndicated credit line from the 19 banks and KfW will now mature in July 2026.

Its revolving credit facility (RCF) will in future also be linked to the Group’s emission reduction targets.

KfW’s credit line, which was recently reduced to €1.05 billion, won’t be drawn further.

Meanwhile, TUI bookings are strong for summer 2023, and demand for travel remains high in all markets.

TUI Booking numbers in recent weeks are already above pre-pandemic levels.

TUI CFO Mathias Kiep said: “The successful extension of our credit lines is a vote of confidence in our business model and future strategy.”

“This lays the basis for profitable growth and we remain the pioneer in climate protection.”

TUI says by 2030, emissions will be significantly reduced in TUI Airlines (-24%), in the hotel segment by at least -46.2% and in 27.5 less in cruising.



Learn more about :   TUI ( United Kingdom )  



 

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TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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