Hannover, 1 July 2022

TUI repays further state aid to WSF and reduces undrawn KfW credit lines

  • Silent participation II of 671 million euros repaid on June 30

  • Currently undrawn KfW credit lines reduced to 2.1 billion euros

  • Joussen and Ebel: TUI is on its way back to a "normal company" – operationally strong summer business and strengthening of the balance sheet

As announced, TUI has again repaid state aid from the Corona programme and also further reduced its credit lines. On June 30, 2022, Silent Participation II of 671 million euros was repaid in full, plus interest due, to WSF (Economic Stabilisation Fund). The repayment was made with the proceeds from the successful capital increase in mid-May and from cash funds. Including interest, TUI repaid 725 million euros to WSF. Due to the continued very good operating business, the existing and currently undrawn KfW credit lines were also reduced from 2.4 to 2.1 billion euros as previously announced.

TUI is gradually repaying the loans from the Corona period. With the repayment of Silent Participation II to WSF, we are continuing on the path of debt reduction as planned in order to strengthen the balance sheet and align TUI for the period after the Corona pandemic. Operationally, we continue to see a strong summer business. Therefore, TUI is on its way back to being a normal company. This was stated by Fritz Joussen, CEO of TUI Group, and Sebastian Ebel, CFO and designated CEO from October 1, 2022, in Hanover.

After the repayment of the Silent Participation II and the reduction of the KfW credit lines, the following state aid still exists:

  • WSF Silent Participation I: 420 million euros, convertible into 420 million shares.
  • WSF warrant bond: 59 million euros, convertible into 59 million shares
  • KfW credit lines: 2.1 billion euros, currently undrawn

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.