TUI AG : Support from the German government: ja, aber…
TUI announced last Friday that it received the approval of the German government for a bridging loan of EUR1.8bn from the KfW. The funds of Germany’s state-owned development bank are to be used to increase TUI's existing RCF with its banks amounting to EUR 1.75bn. The KfW bridge loan is subject to the approval of the banks. This would give TUI access to financial resources and credit lines totaling EUR 3.1bn at the present time. - Since our report published on the 3rd of March, the...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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