TUI AG : Hopes for a marked recovery as of summer 2021 and the challenge of debt repayment
>2020 breaks all the records - 2020 has been an exceptional year in a number of respects. With a 58% y-o-y decline in revenues, there has been little room for optimism, particularly in a sector that for a long time has suffered from low profitability. As such, the year has ended with a colossal loss of close to € 3bn, representing the totality of all of the positive net profit generated over the past five years...and major questions on the scale of the anticipated re...TUI is engaged in the tourism business, operating in some 180 countries. Co.'s segments include Hotels & Resorts, Cruises and Other Tourism. The Hotels & Resorts segment comprises all Group-owned hotels and hotel companies in TUI Group. The segment comprises majority participations in hotels, joint ventures with local partners, stakes in companies. The Cruises segment consists of Hapag-Lloyd Cruises and the joint venture TUI Cruises. Other Tourism segment comprises central functions such as destination services, IT, aviation control and the French airline Corsair.
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