New boss Sebastian Ebel said Tui’s goal, as it was under his predecessor Fritz Joussen, remained to return state aid received during the pandemic "as quickly as possible" to reduce the airline and operator’s net debt and interest burden.
Tui will find the latest repayment through capital increases – issuing new or selling additional shares in the business.
The agreement comprises several elements, including full repayment the silent participation provided by Germany’s Economic Stabilisation Fund (WSF) of €420 million and a remaining warrant bond worth €59 million, taking back the WSF’s options to convert its support for Tui into shares in the business.
