In its half-year results announcement this morning, Tui Group said to ensure that its operational performance can continue in a globally weakened market following the pandemic, it is now implementing extensive cost-cutting measures.
“This will further accelerate the transformation to a digital platform company that has already been initiated,” it said.
Chief executive Fritz Joussen said: "Tui should emerge from the crisis stronger. But it will be a different Tui and it will find a different market environment than before the pandemic. This will require cuts: in investments, in costs, in our size and our presence around the world.
