This was announced by the company, underlining that the safety and health of customers and employees worldwide remains the top priority for the group. The temporary suspension of its work is intended to contribute to global government efforts to mitigate the impact of the spread of COVID-19.
In the light of these developments, the TUI Executive Committee withdrew its forecasts for the current financial year, as announced on February 11, 2020, avoiding issuing new forecasts under the current circumstances.
Due to the unprecedented escalation of COVID-19, the TUI Board of Directors is constantly assessing the situation and examining a range of actions that will support employees, partners and customers, the company said.
The group has liquidity of about € 1.4 billion, and has decided to apply for a state guarantees program to support the business until it returns to normal operation.
A similar request is expected to be made by the Lufthansa airline.