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

Reuters
·1 min read

BERLIN, Aug 12 (Reuters) - 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) (Reporting by Thomas Seythal Editing by Michelle Martin)