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Tui Group secures funds to get it through the winter

Operators
Gary Noakes
30 September 2020

Tui Group has taken a final step towards securing a €1.2 billion cash injection.

Tui has scaled down its airline's capacity during the Covid crisis

Germany’s Economic Stabilisation Fund, WSF, has subscribed to the group’s bond issue to the tune of €150 million.

The investment is added to a €1.05 billion credit line already agreed and means Tui Group has total resources of around €2 billion. 

“The package ensures sufficient liquidity to cover the seasonal fluctuations over winter 20/21 and also strengthens the group’s position in the current volatile market environment,” Tui said. 

WSF’s investment in Tui will be for six years and pay 9.5% interest.