TUI Group to receive EUR1.8bn govt loan to bolster financial position during the coronavirus crisis

    TUI Group announced (27-Mar-2020) the German Government approved a EUR1.8 billion bridging loan from the German development bank KfW. Funds will be used to increase TUI’s existing credit line with its banks in response to the coronavirus outbreak. A condition of the loan is that TUI waives dividend payments for the duration of the bridge loan, giving the company access to financial resources and credit lines totaling EUR3.1 billion. [more – original PR]