Hanover, 8 April 2020

TUI AG: KfW arrangement signed – banking consortium approves German Federal government bridging loan

KfW and TUI AG confirm the signing of the state aid bridging loan for 1.8 billion euros. The loan had been committed by the German Federal Government on 27 March as part of the COVID-19 state support programme. TUI's current Revolving Credit Facility “RCF” banking consortium supports the KfW loan and the addition of the 1.8 billion euros into TUI's existing RCF credit line. 

Following the international travel restrictions, TUI decided to apply for the KfW loan in order to cushion the unprecedented effects of the pandemic until normal business operations can be resumed. TUI like others had to temporarily suspend its tour operator, flight, hotel and cruise programmes. TUI is a very healthy company that was economically successful before the crisis – it has a strong strategic positioning, structure and substance. The current financial year 2020 had started off with extremely strong bookings.

TUI CEO Fritz Joussen: "Our employees are rightly proud of TUI’s success in recent years and they should continue to be in the future - after this crisis We must bridge this unprecedented global situation. The German Government has acted quickly to support jobs and companies during these exceptional times. We are now preparing intensively for when our operations can resume after the Coronavirus crisis and firmly believe, people will continue to want to travel and explore other countries and cultures in the future.”

About TUI Group

TUI Group is one of the world's leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI shares are listed on the FTSE 250, an index of the London Stock Exchange, on the regulated market of the Hanover Stock Exchange and on the Open Market segment of the Frankfurt Stock Exchange. The TUI Group offers integrated services from a single source for its 27 million customers, 21 million of them in the European national companies.

The entire tourism value chain is covered under one roof. This includes over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 16 cruise ships, from the MS Europa and the MS Europa 2 in the luxury class and expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in Great Britain. The Group also includes leading tour operator brands and online marketing platforms across Europe, five airlines with more than 100 modern medium and long-haul aircraft and over 1,000 travel agencies. In addition to expanding its core business with hotels, cruises via successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a digital company.

Global responsibility for sustainable economic, ecological and social action is at the core of our corporate culture. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards with projects in 25 countries. It thus supports holiday destinations in their development.