Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Xetra  >  TUI AG    TUI1   DE000TUAG000


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

TUI : reduces winter capacity, continues to evaluate funding options

share with twitter share with LinkedIn share with facebook
09/22/2020 | 03:38am EDT

Holiday company TUI said that it had reduced capacity for the coming winter season due to changing travel restrictions, and it continued to evaluate options to boost its balance sheet which has been strained by the COVID-19 pandemic.

The Germany-based group which is the world's largest travel company said on Tuesday its liquidity stood at 2 billion euros on Sept. 20, down from 2.4 billion euros in mid August, with the reduction due to higher customer refund obligations.

Travel restrictions have hit the company hard, forcing it to cancel trips and change its schedule, and rising coronavirus infections across Europe mean it has now reduced its already shrunken winter season by another 20%, it said.

That means less future business, heaping more pressure on the group's finances.

"We continue to evaluate options to achieve the optimal balance sheet structure to support the business over the longer term," TUI said in its statement.

Sources say that TUI is considering a share sale of up to 1 billion euros to prop up its balance sheet. A German government bailout of 3 billion euros in debt has helped it survive the crisis so far.

TUI stuck to guidance that for its summer season next year it will operate 80% of its adjusted capacity and said it was encouraged by early bookings.

(Reporting by Sarah Young; editing by James Davey)

share with twitter share with LinkedIn share with facebook
All news about TUI AG
08:09aUNCONTROVERTED EXPERT EVIDENCE : Griffiths -v- TUI UK Limited EWHC 2268 (QB)
10/23TUI : Supervisory Board announces new employee representatives
10/23TUI : Germany preparing bridging support for tourism sector
10/22TUI : Supervisory Board of TUI AG with two new employee representatives
10/19TUI : Directorate Change
10/19TUI AG : Directorate Change
10/19TUI : RIU Hotels increased its investment in social and environmental projects b..
10/16TUI : RIU and Nakheel's 800-room joint venture at Deira Islands books December 2..
10/14UK's new travel testing plan will boost flying, minister says
10/14UK's new travel testing plan will boost flying, minister says
More news
Sales 2020 8 738 M 10 199 M 10 199 M
Net income 2020 -2 186 M -2 551 M -2 551 M
Net Debt 2020 5 390 M 6 291 M 6 291 M
P/E ratio 2020 -0,94x
Yield 2020 -
Capitalization 1 894 M 2 208 M 2 210 M
EV / Sales 2020 0,83x
EV / Sales 2021 0,44x
Nbr of Employees 65 934
Free-Float 66,4%
Chart TUI AG
Duration : Period :
TUI AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TUI AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 2,78 €
Last Close Price 3,21 €
Spread / Highest target 18,5%
Spread / Average Target -13,3%
Spread / Lowest Target -59,5%
EPS Revisions
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
Sector and Competitors