The German government has approved the loan from KfW, which will be used to increase the operator’s existing credit line to €1.75 billion.
Tui must waive dividend payments for the duration of the bridge loan, giving it access to financial resources and credit lines of €3.1 billion.
“The commitment of the KfW bridge loan is an important first step for Tui to successfully bridge the current exceptional situation,” said Fritz Joussen, chief executive of the Tui Group.
