TUI, Germany agree on additional $1.4 bln coronavirus aid package

TUI has reached an agreement with the German government on an additional aid package worth 1.2 billion euros ($1.4 billion) to provide sufficient liquidity, the tour operator said on Wednesday as the company is hit by the coronavirus pandemic.

TUI has reached an agreement with the German government on an additional aid package worth 1.2 billion euros ($1.4 billion) to provide sufficient liquidity, the tour operator said on Wednesday as the company is hit by the coronavirus pandemic. The package will help cover TUI's seasonal swing through winter 2020/21 and beyond or if there are long-term travel restrictions and disruptions related to the pandemic, it said in a statement.

TUI and state-owned lender KfW agreed to increase an existing credit line by 1.05 billion euros, the company added. ($1 = 0.8497 euros)