FRANKFURT: German travel giant TUI on Wednesday said it secured a third aid package -- this time worth 1.8 billion euros -- to help it withstand the devastating impact of the coronavirus pandemic.
German public lender KfW, banks and its largest single shareholder have all agreed to chip into the third aid programme for TUI, after a 1.2 billion euro package accorded in August and a 1.8 billion-euro government loan offered in April.
The package is intended to ensure the company can bridge the gap as the impact of the pandemic persists well into 2021, TUI said in a press release.