TUI is mulling a capital raise
Travel giant Tui has said it is mulling a capital raise after the holiday sector was hammered by the pandemic.
However, the company said it would be “significantly lower” than the one billion to €1.5 billion (£910 million to £1.35bn) mentioned in press reports. It comes after Tui received a €1.2bn (£1.1bn) injection of state aid from the German government to see it through the winter. Tui said: “In view of the still very volatile market environment resulting from the Covid-19 crisis, it continues evaluating various measures to achieve an optimal balance sheet structure and maturity profile.”
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