Tui is saved, but at what cost

TUI has decided to apply for a loan from the public bank Kreditanstalt für Wiederaufbau (KFW) to alleviate the unprecedented effects of the COVID-19 pandemic until normal activities resume ».

Reservations are suspended until the end of April

A TUI spokesperson said « TUI is in very positive talks on state aid, but we cannot comment further « . The German group has suspended all holiday bookings until the end of April. The group had announced on 15 March that a request for state guarantees would be sought after a collapse in sales.

They warn that TUI’s obligations regarding volume guarantees, billing guarantees or other commitments, including deposits or advances are suspended  »

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