Tui said it repaid all German COVID-19 governmental subsidies on Friday. After a capital increase, the company gave the economic stability fund 750 million euros ($823 million).
An arrangement reached with the German government late last year required Tui to repay the government fund’s silent participation and warrant bond by the end of the year.
On Friday, Tui paid 381 million euros for interest, coupons, and conversion rights.
“This is a very important day for TUI – the roadmap to repay the state aid has been implemented consistently and swiftly,” said Tui CEO Sebastian Ebel. “TUI is strengthened and on course, now focus is profitable growth.”
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