TUI launches rights issue

TUi

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

Nothing like a good cliffhanger… care to see how the story ends?

Subscribe today for unlimited access to Hospitality Insights.