[Coronavirus] TUI temporarily suspends vast majority of all travel operations due to COVID-19


In this rapidly changing environment the safety and welfare of our guests and employees worldwide remains of paramount importance and thus TUI Group has decided, in line with government guidelines, to suspend the vast majority of all travel operations until further notice, including package travel, cruises and hotel operations. This temporary suspension is aimed at contributing to global governmental efforts to mitigate the effects of the spread of the COVID-19.

In light of this situation, the Executive Board has decided today to withdraw the Financial Year 2020 guidance as communicated on 11 February 2020. Furthermore the Executive Board also refrains from issuing a new guidance for the Financial Year 2020 under the current circumstances.

Due to the unprecedented escalation of COVID-19, the Board of TUI are continuously evaluating the situation and are considering a variety of actions to support our customers, colleagues and stakeholders.

The Group has cash and available facilities of approx. €1.4bn and year-to-date performance had been in-line with expectations prior to COVID-19. We are taking substantial cost measures to mitigate the earnings effect.

Moreover, we have decided to apply for state aid guarantees to support the business until normal operations are resumed.

Bart Noëth: Since 1996, I have been working in the Belgian airline industry, from a weekend job as a cabin aircraft cleaner to a flight attendant. After the demise of Sabena - in 2001, I created a website called www.luchtzak.be, originally a meeting place for plane spotters and aviation freaks. Since 2017, the website changed into a professional news site. Next to aviation, I love to travel, wine and dine and enjoy my time off(-line) with my girlfriend, friends and family. My favourite football squad is KV Mechelen, I am an Ironman 70.3 finisher and my ambition is to complete a full Ironman.
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