Tui has raised a further €1.8 billion to continue paying back the state aid stumped up by the German government during the pandemic.
Tui plans to grow profits by 7% to 10% a year for the next few years (Credit: iStock)
The capital increase, announced last month, was completed on Monday (17 April), with Tui pledging to use the cash to repay – in full – outstanding aid provided by Germany’s economic stabilisation fund (WSF), as well as to support a reduction in credit lines provided by German state bank KfW.
Sebastian Ebel, Tui chief executive, confirmed: "As announced, we will repay the aid received from the WSF in full, including interest, from the proceeds of the capital increase.
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Tui has raised a further €1.8 billion to continue paying back the state aid stumped up by the German government during the pandemic.
Tui plans to grow profits by 7% to 10% a year for the next few years (Credit: iStock)
The capital increase, announced last month, was completed on Monday (17 April), with Tui pledging to use the cash to repay – in full – outstanding aid provided by Germany’s economic stabilisation fund (WSF), as well as to support a reduction in credit lines provided by German state bank KfW.
Sebastian Ebel, Tui chief executive, confirmed: "As announced, we will repay the aid received from the WSF in full, including interest, from the proceeds of the capital increase.
"We are reducing our debt and interest costs, [so] Tui will have a good balance sheet structure. Now we focus on profitable growth and improved profitability."
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