TUI AG gets German Federal Government commitment for € 1.8 billion KfW loan

TUI AG (LON: TUI) has informed German Federal Government has committed that it will provide a KfW loan amounting € 1.8 billion to the company.

  • The commitment of the German Federal Government meant for increasing the company’s current €1.75 billion credit agreement.
  • The company had sought the KfW loan to soften the exceptional negative impact of the COVID 19 pandemic until regular business operations can begin again.
  • The company further informed that one of the conditions of the loan is that the company would be waiving the dividend payments for the duration of the credit line.