Germany’s Economic Stabilisation Fund, WSF, has subscribed to the group’s bond issue to the tune of €150 million.

The investment is added to a €1.05 billion credit line already agreed and means Tui Group has total resources of around €2 billion. 

“The package ensures sufficient liquidity to cover the seasonal fluctuations over winter 20/21 and also strengthens the group’s position in the current volatile market environment,” Tui said. 

WSF’s investment in Tui will be for six years and pay 9.5% interest.

Tui Group chief executive Fritz Joussen said: "The increased stabilisation package with government loans will above all secure liquidity during the pandemic. 

“We have to bridge this period without any significant turnover and at the same time accelerate the restructuring for the post-Covid-19 period. 

“Tui will become more digital and efficient. In addition, we want to continue to set standards for more sustainability in tourism in the future, even if the current focus has to be on overcoming the crisis."