TUI AG : New € 1.8bn financing programme
>Additional financing of € 1.8bn, mostly granted by federal government - TUI AG yesterday announced a major new financing agreement for € 1.8bn, which is at the top of the range cited in the press in recent weeks. The programme is the third financing package obtained by the group in 2020, with nearly € 3bn having already been granted in two phases. The package will be financed in large part by the federal government through the economic support fund (WSF) and the fede...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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