All good things come in threes: The newly restructured travel company can look forward to the third rescue package. TUI has agreed on a financing package totaling 1,8 billion euros with private investors, banks and the federal government, the tourism group announced today.

According to TUI, the package specifically provides for a capital increase of around 500 million euros, which will be shouldered by private investors. In addition, there is a silent contribution from the state economic stabilization fund (WSF) amounting to 420 million euros that can be converted into shares in TUI. In addition, there is a non-convertible silent contribution from the WSF in the amount of 280 million euros.

The financing package strengthens TUI's position and provides the group with sufficient liquidity reserves, it said. "This also offsets the travel restrictions that were adopted until the beginning of the summer season 2021." The package had become necessary due to the increasing travel restrictions due to the increasing number of infections and the associated short-term booking behavior of some customers.