Tui in talks with German government over new bailout November 13, 2020 Travel giant Tui is reportedly in talks with the German government over receiving a further €1.8bn (£1.6bn) bailout in order to survive the coronavirus pandemic. The Anglo-German firm has already received €3bn in state aid to stay afloat during the crisis, which has hammered the global travel industry. However, it has now warned that the [...]
What’s in store for the airline industry this winter? October 30, 2020 Although every industry has suffered due to the coronavirus pandemic, few have been as hard hit as the world’s airlines. At the beginning of the year, the idea of a world without global air travel was for most people a relic of a long-forgotten past, but seven months of extreme turbulence have flipped that notion [...]
Tui to refund all customers by the end of the month September 16, 2020 Travel giant Tui UK will refund all package holidays cancelled due to the coronavirus by the end of the month, the UK’s competition watchdog announced this morning. The Competition and Markets Authority (CMA) had launched an investigation into the firm after receiving thousands of complaints from customers who had not been refunded. Under consumer protection [...]
Holiday firm Tui falls to €1.1bn loss as coronavirus halts travel August 13, 2020 Tour operator Tui this morning posted a €1.1bn (£1bn) loss in the third quarter as business came to a “standstill” due to the coronavirus pandemic. The near total shutdown of its operations took the world’s largest holiday firm’s loss to €2bn over the past nine months, it added. Shares in the Anglo-German firm fell nearly [...]
Tui agrees €1.2bn rescue package with German government August 12, 2020 Holiday firm Tui has agreed a €1.2bn (£1.1bn) rescue deal with the German government to give it the cash it needs to keep trading during the coronavirus pandemic. The virus has decimated the holiday market, with widespread travel restrictions and grounded airlines leading to an unprecedented collapse in demand. The majority of the funding will [...]
Tui bolsters finances with $226m sale and leaseback deal for 737s August 3, 2020 Package holiday firm Tui has agreed a sale and leaseback for five new Boeing 737 Max-8 aircraft with BOC Aviation Ltd, which will raise $226m (£173m) for its finances. The firm said that the deal was part of its “asset right” strategy, which will see it sell existing assets to finance the purchase of new [...]
Tui to close 166 high street stores and cut 270 jobs July 30, 2020 Package holiday firm Tui will close 166 of its high street stores, it announced today, after a slump in the travel sector caused by the coronavirus pandemic. The tour operator said that the decision will impact 900 jobs, but only 270 of these are at risk of being cut. Tui will try to move the [...]
Tui UK cancels flights to Spanish islands until 4 August July 29, 2020 Package holiday firm Tui UK has today cancelled all of its holidays to the Balearic and Canary Islands until 4 August after the government’s decision to implement a mandatory quarantine on all travellers from Spain. The tour operator had already cancelled all holidays to the Spanish mainland until 10 August. Tui said the cancellations would [...]
Tui and Boeing agree 737 Max grounding compensation June 3, 2020 Holiday operator Tui has reached a compensation deal with Boeing that includes slower delivery of the aircraft maker’s grounded 737 Max planes, bolstering its balance sheet during the coronavirus crisis. Tui’s earnings have been hit by the extended grounding of the 737 Max, and today said Boeing would pay compensation to cover “a significant portion” [...]
Coronavirus: Tour operator Tui cancels holidays until mid-May April 8, 2020 The UK’s biggest package holiday firm Tui has extended the cancellation of its holidays for UK customers until mid-May among uncertainty as to when coronavirus travel restrictions will cease to apply. In a statement, the firm said that beach holidays for UK and Irish customers travelling up to and including 14 May would no longer [...]