KFW and TUI AG confirm the signing of a € 1.8 billion government bridge loan. The loan is guaranteed by the German federal government as part of their Covid-19 support program.
TUI’s current credit facility, the RCF Bank Consortium, supports the KFW loan and adds EUR 1.8 billion to TUI’s existing credit line.
Following the introduction...
Read MoreAirlines from all over the world owe Swedish travel agencies and tour operators SEK 2 billion for travel canceled due to corona. Although the reimbursement obligation is statutory, most airlines do not pay. “In the end, consumers risk losing their money,” said Didrik von Seth, secretary general of the travel industry association SRF in...
Read MoreThe travel agencies’ trade organization, DRF, otherwise referred to the aid package as “urgently needed”, and even earlier this month also called on its members not...
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DRF Director Lars Thykier says many travel agencies are already bankrupt at this time, and he wonders if the $ 1.5 billion danish kroner the Government guarantees through the Travel Guarantee Fund is a loan and not a definite compensation. “It will take years to repay such a large amount, and I am...
“There have been fewer last-minute bookings to Southeast Asia, rather they are booking to other destinations, such as the Canary Islands,” said acting communications manager Adam Györki of the travel company TUI to E24.
Most people who travel to Thailand, for example, booked their trip already last summer.
At Ving there is also some...
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