{"id":4433,"date":"2021-07-27T18:33:58","date_gmt":"2021-07-27T15:33:58","guid":{"rendered":"https:\/\/turizmpress.com\/en\/?p=4433"},"modified":"2021-07-27T18:34:00","modified_gmt":"2021-07-27T15:34:00","slug":"tui-extends-4-7-billion-euros-credit-lines-for-2-years","status":"publish","type":"post","link":"https:\/\/turizmpress.com\/en\/regions\/europe\/tui-extends-4-7-billion-euros-credit-lines-for-2-years\/","title":{"rendered":"TUI extends 4.7 billion euros credit lines for 2 years"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">TUI Group, 19 private banks and German public bank (KfW) have agreed to extend the maturity of TUI&#8217;s revolving credit of 4.7 billion euros until the summer of 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>TUI CEO Fritz Joussen said:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>\u201cTUI is returning to the growth path. We are well positioned with our tour operators, hotel and cruise brands and we will be more efficient and digital after the Corona crisis. The banks support our strategy, our path of transformation and see TUI&#8217;s strengths after the Corona crisis. We are now financed in the medium term until summer 2024. This creates stability and flexibility as long as Corona restrictions still affect the business and markets. &#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>The largest tour operator in Europe said it plans to repay government loans quickly as travel recovers. Based on TUI&#8217;s current rating, the margin rate after extension for the RCF tranches will be 4.50 per cent per annum.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>&#8221;The 2021 summer season has started well, demand for holidays and travel remains high in all of TUI&#8217;s European markets. Vaccinations continue to be the key to more freedom for all and also for travel.\u201d Joussen added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TUI Group, 19 private banks and German public bank (KfW) have agreed to extend the maturity of TUI&#8217;s revolving credit of 4.7 billion euros until the summer of 2024. TUI CEO Fritz Joussen said: \u201cTUI is returning to the growth path. We are well positioned with our tour operators, hotel and cruise brands and we [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"TUI extends 4.7 billion euros credit lines for 2 years #TUI #travelnews #tourismnews","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[11,103],"class_list":["post-4433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","tag-germany","tag-tui"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TUI extends 4.7 billion euros credit lines for 2 years - Tourism Press<\/title>\n<meta name=\"description\" content=\"TUI, 19 private banks and German public bank (KfW) have agreed to extend the maturity of TUI&#039;s revolving credit of 4.7 billion euros until the summer 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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