Hanover, 13 May 2020
Global realignment and cost reductions decided / Group transformation to be accelerated
- CEO Fritz Joussen: “People want to travel. Europe must now gradually open up. Summer holidays are possible responsibly and with clear rules. We will reinvent the holiday in 2020.”
- TUI hotels in Germany and Europe ready to go. Increased hygiene and safety measures for all tourism activities of the Group.
- Strong start to the 2020 financial year before the pandemic: turnover grows by +6 per cent to 6.0 billion euros in the first five months. Operating underlying EBIT after five months +21 per cent to -240 million euros1 2
- First bookings for summer 2021: +114 per cent
- Occupancy rate TUI Cruises 2021 at normal level
- Targeting 30 per cent overhead cost reduction across the Group
- Available liquidity (as of 10 May 2020): 2.1 billion euros
TUI is ready for an early resumption of travel activities in Germany and Europe. Barely two months after almost all business units had to be shut down due to the worldwide travel bans, the tourism group is prepared for a resumption of its operational activities. TUI’s first hotels on Sylt and in Mecklenburg-Western Pomerania will open their doors for guests in the coming days. TUI’s hotels and clubs in European destinations are also ready to welcome holidaymakers. A 10-point catalogue for increased hygiene and protection measures is currently being implemented in the Group’s hotels worldwide, offering guests the greatest possible safety. Fritz Joussen, CEO TUI Group: “The safety and well-being of our guests and employees around the world continue to be our top priority. Summer holidays in Europe can now gradually be made possible again – responsibly and with clear rules. Organised travel offers great advantages especially now: With the trusted TUI brand, we offer safety, local support and, in special situations, guarantee the return journey home. Together with the destinations and our partners we have developed extensive measures to protect our guests. The demand for holidays is still very high. People want to travel. Our integrated business model allows us to start travel activities as soon as this is possible again. The season starts later, but could last longer. For 2020 we will also reinvent the holiday: New destinations, changed travel seasons, new local offerings, more digitalisation.”