Europe

TUI makes €2 billion loss, takes an additional €1.2 billion in liquidity from KFW

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TUI makes €2 billion loss, takes an additional €1.2 billion in liquidity from KFW

TUI post a loss of €2 billion in the nine months to June 2020 and has agreed with KfW to extend an existing credit line by €1.05 billion. This is subject to TUI issuing a €150 million convertible bond to Germany's Economic Stabilisation Fund (WSF) and a waiver by the bondholders of the senior ...

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