TUI secures new government funding as losses mount

TUI has secured an additional €1.2 billion in stabilisation funding from German state-owned development bank KfW.

The deal will see the holiday giant extend an existing credit line by €1.05 billion.

The drawing of this amount is subject to TUI issuing a convertible bond in the amount of €150 million to the Economic Stabilisation Fund and a waiver by the bondh

Source : Breakingtravelnews