TUI shareholders approve capital restructuring

Outbreak of the coronavirus disease (COVID-19) in Stoke-on-Trent
FILE PHOTO: TUI logo is seen at the TUI travel center following the coronavirus disease (COVID-19) outbreak, in Hanley, Stoke-on-Trent, Britain, July 28, 2020. REUTERS/Carl Recine

January 5, 2021

BERLIN (Reuters) – Shareholders in TUI Group, the world’s biggest holiday company, on Tuesday approved a capital restructuring that includes a capital increase to pay down new debt taken on to help it survive the coronavirus pandemic.

In early December, TUI secured a multi billion-euro bailout with the German government, private investors and banks after the COVID-19 crisis wiped out its revenue.

(Reporting by Kirsti Knolle; Editing by Christoph Steitz)