TUI reimburses 1.8 billion euros to the German state

Avatar photo

1.8 billion euros: this is the new tranche of capital raised by TUI to continue to reimburse the state aid granted by the German government during the pandemic.

The sum comes from a capital increase whose process has just been completed and which, as the group specifies, will be used in full to repay the outstanding amount of aid paid by the German Economic Stabilization Fund – FSM – as well as to reduce the credit lines provided by the German state bank KfW.

Sebastian Ebel, CEO of TUI, confirmed that the TO will repay the entire aid, including interest, so that the company can have a good balance sheet structure, as well as improved profitability.

Catherine Mills Avatar