TUI secures government-backed bailout
TUI AG has secured a €1.8 billion loan from a German state-owned bank in one of the country’s biggest coronavirus bailouts.
Europe’s biggest travel company announced it received approval for the loan from the German government on Friday.
The funding will add to TUI’s existing €1.75 billion credit facility.
CEO Fritz Joussen said: "We were economically successful before the crisis and will be again after the crisis.
"However, we are currently facing unprecedented international travel restrictions. As a result, we are temporarily a company with no product and no revenue."
The loan is subject to approval by TUI’s lending banks, and the company will have to waive dividend payments for the duration of the loan.
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Euromonitor International unveils world’s top 100 city destinations for 2025