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MarketScreener Homepage  >  Equities  >  Xetra  >  TUI AG    TUI1   DE000TUAG000

TUI AG

(TUI1)
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Delayed Quote. Delayed Xetra - 09/25 11:36:00 am
2.968 EUR   +1.92%
09/26DIETER ZETSCHE : Daimler's designated chairman Zetsche renounces job
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09/24TUI : Goldman Sachs gives a Sell rating
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09/23TUI PENCE : UBS remains a Sell rating
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TUI : UK regulator pushes TUI over COVID-19 cancelled holiday refunds

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09/16/2020 | 03:58am EDT
FILE PHOTO: Logo of Germany-based travel company TUI

Britain's competition regulator said TUI UK will refund customers for COVID-19 cancelled holidays by Sept. 30, after it investigated consumer complaints that travel companies were dragging their heels over returning cash.

Under consumer protection law, holiday firms must refund customers for cancelled holidays within 14 days, but during the pandemic the high volume of refunds and strained company finances slowed the return of monies owed.

The UK's Competition and Markets Authority said on Wednesday that it investigated TUI UK, part of Germany-based TUI, which is the world's largest holiday group, following thousands of complaints from customers waiting more than 14 days for refunds.

Consumer group Which? said that holidaymakers are still owed millions of pounds for cancelled holidays and flights, and the CMA said on Wednesday it had written to over 100 package holiday businesses to remind them of their obligations on refunds.

TUI UK has now agreed to pay outstanding refund requests by the end of this month and will also contact customers who have been issued a credit note to advise them that they can convert it to a refund if they want.

The refunds will be a new drain on TUI's finances.

The cash-strapped company has received emergency loans from the German government, and said it is considering raising new equity from shareholders or selling off parts of the business to reduce debt taken on to survive the coronavirus pandemic.

The CMA also said that TUI will report to it regularly over the coming year on the time it takes to refund customers.

(Reporting by Sarah Young; editing by James Davey and Louise Heavens)

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All news about TUI AG
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Financials
Sales 2020 8 738 M 10 157 M 10 157 M
Net income 2020 -2 186 M -2 541 M -2 541 M
Net Debt 2020 5 390 M 6 265 M 6 265 M
P/E ratio 2020 -0,87x
Yield 2020 -
Capitalization 1 752 M 2 036 M 2 037 M
EV / Sales 2020 0,82x
EV / Sales 2021 0,43x
Nbr of Employees 65 934
Free-Float 66,4%
Chart TUI AG
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Technical analysis trends TUI AG
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 2,78 €
Last Close Price 2,97 €
Spread / Highest target 28,0%
Spread / Average Target -6,30%
Spread / Lowest Target -56,2%
EPS Revisions
Managers
NameTitle
Friedrich Peter Joussen Chief Executive Officer
Dieter Zetsche Chairman-Supervisory Board
Birgit Conix Chief Financial Officer
Peter James Long Deputy Chairman-Supervisory Board
Andreas Barczewski Member-Supervisory Board