TUI Expects a Strong 2021 Holiday Season Currently Around 70 Percent of Respodents Want to Go on Holiday

In a pilot project by TUI and RIU with the government of the Netherlands, 60,000 holidaymakers registered in a single day for the 180 places available.

Release time : 2021-05-14 10:38:27

source : Travel Daily News

the backdrop of continued pan-European lockdowns and ongoing massive travel restrictions to continue to massively drive forward its transformation and realignment. TUI will emerge from this crisis stronger, more digital and more efficient, while at the same time expanding quality and service through more digital services.

Key figures H1 2021: Loss contained through consistent cost discipline and continued realignment – cash outflow at stable level

In the reporting period, the Group continued its consistent cost discipline. The realignment, with a focus on transformation and Group-wide digitalisation, also continued. The monthly cash outflow remained at a stable level, particularly in the second financial quarter (January to March 2021), averaging around 300 million euros.

Adjusted EBIT was thus limited to -1.3 billion euros in the reporting period (H1 2020 less affected by the pandemic: -795 million euros). As the massive travel restrictions continued in the reporting period, sales reached 716 million euros (previous year: 6.6 billion euros). Unlike in the 2020 financial year, this time all six months of the first half of the 2021 financial year fall under the full pandemic restrictions.

Investors support TUI strategy: Twice oversubscribed convertible bond reaches volume of 400 million euros

Following the successful rights issue at the beginning of the year, the Group completed additional financing in the capital market in April 2021. The almost doubly oversubscribed convertible bond issue reached a volume of 400 million euros and is intended in particular to refinance loans from the state Corona stabilisation packages. Joussen: “The successful placement of the bond was an important first step in addressing our capital structure. A good summer season will help with refinancing measures. The government support for the Group helps us, but these are interest-bearing loans, not gifts. We take a clear signal from the capital market: tourism remains a