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TUI agree on additional 1.2 billion euros package, loss 1.1 bin euros

Christian Fernsby |
TUI and KfW have agreed to extend the existing KfW credit line by 1.05 billion euros.

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Topics: TUI   

The drawing of this amount is subject to TUI issuing a Convertible Bond in the amount of 150 million euros to the Economic Stabilisation Fund (WSF) and a waiver by the bondholders of the Senior Notes due in October 2021.

Both conditions as well as other formal requirements need to be fulfilled by 30 September 2020.

Underlying EBIT on a constant currency basis totaled -1.1 billion euros (previous year: 102.3 million euros).

Bookings for summer 2021 very promising: +145 percent.


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