Hanover, 15 March 2020

TUI temporarily suspends vast majority of all travel operations due to COVID-19

  • Guidance for FY 2020 withdrawn
  • Application for State aid guarantees decided

In this rapidly changing environment the safety and welfare of our guests and employees worldwide remains of paramount importance and thus TUI Group has decided, in line with government guidelines, to suspend the vast majority of all travel operations until further notice, including package travel, cruises and hotel operations. This temporary suspension is aimed at contributing to global governmental efforts to mitigate the effects of the spread of the COVID-19.

In light of this situation, the Executive Board has decided today to withdraw the Financial Year 2020 guidance as communicated on 11 February 2020. Furthermore the Executive Board also refrains from issuing a new guidance for the Financial Year 2020 under the current circumstances.

Due to the unprecedented escalation of COVID-19, the Board of TUI are continuously evaluating the situation and are considering a variety of actions to support our customers, colleagues and stakeholders.

The Group has cash and available facilities of approx. €1.4bn and year-to-date performance had been in-line with expectations prior to COVID-19. We are taking substantial cost measures to mitigate the earnings effect.

Moreover, we have decided to apply for state aid guarantees to support the business until normal operations are resumed.

About TUI Group

TUI Group is the world’s leading integrated tourism group operating in more than 100 destinations worldwide. The company is headquartered in Germany. The TUI Group’s share is listed in the FTSE 250 index and in the German open market.

In financial year 2019, TUI Group recorded turnover of around €19bn and an operating result of €893m. The Group employs more than 70,000 people worldwide. TUI offers its 28 million customers, including 21 million customers in European national companies, integrated services from a single source. It covers the entire tourism value chain under one roof. This comprises more than 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson as well as 18 cruise ships ranging from the MS Europa and MS Europa 2 luxury class vessels and expedition ships to the Mein Schiff fleet of TUI Cruises and the vessels of Marella Cruises in the UK. The Group also includes leading European tour operator brands, five airlines with 150 modern medium- and long-haul aircraft and 1,600 travel agencies. Apart from the expansion of its core business with hotels, cruises and destination activities, TUI is increasingly investing in digital platforms. The Group is transforming as a digital company.

Global responsibility for sustainable economic, ecological and social activity is a key feature of our corporate culture. TUI Care Foundation, initiated by TUI, promotes the positive effects of tourism, education and training as well as environmental and social standards with projects in 25 countries. It thus contributes to the development of the holiday destinations. TUI Care Foundation, operating around the world, initiates projects creating new opportunities for the next generation.

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