The European travel giant’s supervisory board has approved a €1.8 billion capital increase, Tui confirmed on Friday (24 March), which will be open for new share purchases until 17 April.
Sebastian Ebel, Tui Group chief executive, confirmed the net proceeds from the capital increase would also be used to reduce interest costs and debt, "creating a solid basis for the future".
"We are doing everything we can to further improve the group’s profitability," said Ebel. "Our goal is clear: we want to grow profitably again and gain more market share with additional customers and new products."
