Hanover, 27 March 2020

TUI AG receives commitment of the German Federal Government for a KfW loan in the amount of € 1.8 billion

Inside Information according to article 17 MAR

Hanover, 27.03.2020, 17:36 CET. TUI AG has today received commitment of the German Federal Government for a €1.8 billion KfW loan to increase TUI's existing €1.75 billion credit agreement ("Revolving Credit Facility"). The KfW loan is subject to the approval of the banking consortium in regards to the necessary amendments of the Revolving Credit Facility. Thereby, TUI would have currently cash and available facilities of €3.1 billion. TUI decided to apply for the KfW loan to soften the unprecedented effects of the COVID 19 pandemic until normal business operations can be resumed.    

One of the conditions of the KfW loan is that TUI de facto waives dividend payments for the term of the credit line.

TUI's Executive Board is continuously evaluating the impact on our operations from the development of the COVID 19 pandemic and is implementing a variety of actions to support our customers, colleagues and stakeholders. The health and safety of our customers and employees remain our top priority during these exceptional times.

ANALYST & INVESTOR ENQUIRIES

 

Mathias Kiep, Group Director Investor Relations
and Corporate Finance

 

Tel:
+ 44 (0)1293 645 925/
+ 49 (0)511 566 1425    

 

 

Nicola Gehrt, Director, Head of Group Investor Relations

Tel: + 49 (0)511 566 1435

 

Contacts for Analysts and Investors in UK, Ireland and Americas

Hazel Chung, Senior Investor Relations Manager

Tel: + 44 (0)1293 645 823

Corvin Martens, Senior Investor Relations Manager

Tel: + 49 (0)170 566 2321

 

Contacts for Analysts and Investors in Continental Europe, Middle East and Asia

Ina Klose, Senior Investor Relations Manager

Tel: + 49 (0)511 566 1318

 

Media

 

Kuzey Alexander Esener, Head of Media Relations

Tel: + 49 (0)511 566 6024