TUI AG - Last minute bargain or bottomless pit?

Hardly any other sector of the economy was hit as hard by the Corona pandemic as the travel industry and experienced dislocations on an unprecedented scale. Without government rescue packages, the world's largest fully integrated tourism group, TUI, would hardly have survived this crisis of the century. Since the openings and the end of the lockdowns, the number of bookings has increased noticeably. More than 500,000 customers booked a TUI vacation over Easter, and booking numbers are expected to return to pre-Covid levels for the summer. The Group's strategy is clearly defined and focuses operationally on profitable growth in the Vacation Experiences and Markets & Airlines divisions. On the other hand, reducing debt, refinancing and strengthening the balance sheet is at the top of the Hanover-based company's agenda. The ongoing capital increase is now intended to take the first step toward recovery. But questions and uncertainties remain.

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