TUI Group has launched a rights issue to raise around €545m to pay down debt and strengthen the group’s liquidity position.
TUI said it would use €314m to repay 2016 notes plus accrued interest. It will use the remaining cash to strengthen its continuing liquidity.
In a new year letter, CEO Fritz Joussen said: “If you ask people what they missed in the pandemic year, one thing often tops a long list: travel. At the beginning of the new year, continents and countries are more isolated f