Tui meets conditions for second government loan

Boeing 737 (Photo: Jan Gruber).
Boeing 737 (Photo: Jan Gruber).

Tui meets conditions for second government loan

Boeing 737 (Photo: Jan Gruber).
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The tourism group Tui, which is suffering from the "side effects" of the corona pandemic, meets the requirements for the disbursement of a further loan in the amount of 1,2 billion euros. In the spring, they already received 1,05 billion euros.

The group had to meet some conditions by September 30, 2020. This has now happened and the bondholders have given their approval. The German economic stabilization fund signed a bond with warrants in the amount of 150 million euros. The group now has funds, including loans from the Reconstruction Loan Corporation, of around two billion euros to get through the winter.

The first tranche, paid out in the spring, is a loan of EUR 1,05 billion. Now there is another 1,2 billion euros to bring the group over the winter. Tui was criticized because of the fact that the fleet of the daughter Tuifly is being reduced considerably and the workforce is also being significantly reduced. The unions are demanding that state aid be used to secure jobs and not to cut them.

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Editor of this article:

Jan Gruber is Senior Editor at Aviation.Direct. Before that, he had held the same position at AviationNetOnline (formerly Austrian Aviation Net) since 2012. He specializes in low-cost carriers, regional aviation in the DA-CH region and in-depth research.

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About the editor

Jan Gruber is Senior Editor at Aviation.Direct. Before that, he had held the same position at AviationNetOnline (formerly Austrian Aviation Net) since 2012. He specializes in low-cost carriers, regional aviation in the DA-CH region and in-depth research.

Nobody likes paywalls
- not even Aviation.Direct!

Information should be free for everyone, but good journalism costs a lot of money.

If you enjoyed this article, you can check Aviation.Direct voluntary for a cup of coffee Coffee trail (for them it's free to use).

In doing so, you support the journalistic work of our independent specialist portal for aviation, travel and tourism with a focus on the DA-CH region voluntarily without a paywall requirement.

If you did not like the article, we look forward to your constructive criticism and / or your suggestions for improvement, either directly to the editor or to the team at with this link or alternatively via the comments.

Your
Aviation.Direct team
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nobody likes!

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