TUI secured a third bailout on Wednesday, striking a deal with private investors, banks and the German government for an extra 1.8 billion euros as the world's largest holiday company tries to ride out the coronavirus-linked travel slump.
London-listed TUI has already received 3 billion euros in state loans this year and the latest government aid prompted calls from opposition lawmakers for Berlin to ensure that it came with strings attached.TUI, which last year took 23 million people on holiday, lost 1.1 billion euros in the second quarter after the COVID-19 pandemic brought global travel to a halt.
TUI's largest shareholder, Russian billionaire Alexey Mordashov, who owns 25per cent of the company, said he is expanding his investment in TUI Group as part of the capital measures. However, budget lawmaker Sven-Christian Kindler from the opposition Greens called on the government to include strict rules on climate and job protection into the package.
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