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EU COMMISSION RECOMMENDS USE OF ANTIGEN TESTS TO FACILITATE CROSS-BORDER TRAVEL
https://www.canarianweekly.com/posts/eu-commission-recommend…
The announcement by the Government of Spain that as of November 23rd, all foreign travellers who enter the country and come from a risk area will to bring a need a negative PCR test result with them, has put a stop to reservations and in some cases has led to cancellations.
https://www.canarianweekly.com/posts/include-antigen-tests-or-no-holidays
this would kill travelling to Spain:
PAIN FOR SPAIN Holidays to Spain to cost families £500 more due to coronavirus test restrictions – with £5,300 fines for rule-breakers
https://www.thesun.co.uk/travel/13186017/spain-holidays-price-coronavirus-tests/
Tui under fire as delayed payments put businesses at risk
https://www.ft.com/content/f1303432-6a6c-488b-98e7-9787b6ae9029
if it comes to an additional state aid, it won't be a loan:
...The money could be granted by Germany's new economic stabilisation fund WSF and could involve a mixture of equity and hybrid capital, the people said, adding that various options were still under discussion and no decisions had been taken....
https://fi.trends365.net/article/5fab8d382740bd0a4d8610eb
??
TUI in talks for up to 1.8 bln euros of extra state aid - sources
https://financialpost.com/pmn/business-pmn/tui-in-talks-for-up-to-1-8-bln-euros-of-extra-state-aid-sources
TUI COME CRUISING BACK TO THE CANARY ISLANDS FROM TODAY
https://www.canarianweekly.com/posts/tui-start-cruises-again-today-canaries
:)
Airlines in scramble to find planes for holidaymakers to Canary Islands
Industry caught short as government unexpectedly removes islands from quarantine list
“But there’s virtually nobody flying. The reports we’re getting is that it’s only [tour operator] Tui with any availability because they hadn’t cancelled flights....
https://www.theguardian.com/business/2020/oct/23/airlines-in-scramble-to-find-planes-for-holidaymakers-to-canary-islands
Canary Islands back in UK's travel corridors so returning Brits won't need to quarantine
The Canary Islands, the Maldives, Denmark and Mykonos have been added to the travel corridors meaning Brits returning from the country won't need to self-isolate
https://www.mirror.co.uk/travel/news/breaking-canary-islands-back-uks-22890313
good news in Germany:
GERMANY REMOVES THE CANARY ISLANDS FROM THE BLACK LIST OF TOURIST DESTINATIONS
https://www.canarianweekly.com/posts/Germany-removes-canary-islands-from-black-list
sounds not bad:
Wow, Boeing 737-MAX Is Cleared To Fly In Europe
https://www.godsavethepoints.com/boeing-737-max-cleared-easa-europe-flying/
TUI AG: Statement in response to current press reports with respect to a potential equity raise of TUI AG
https://www.dgap.de/dgap/News/uk_regulatory/tui-statement-response-current-press-reports-with-respect-potential-equity-raise-tui-ag/?newsID=1401882
it could come faster:
Hamburg - "Corona-Mobil" is on the Benz bus in front of the Steinwerder Cruise Terminal. Large blue SARS-CoV-2 viruses are glued to the sheet metal.
Two inconspicuous tables are hidden behind the emergency vehicle. On it were blue disposable rubber gloves, disinfectant spray, a laptop.
On Friday, 100 of the 800 crew members of the dream ship "Mein Schiff 2" from Tui Cruises were tested for corona viruses in the open-air laboratory of the rapid virus detectors from the Hamburg immunobiology company MedSan from Billhafen. Everything under the strict supervision of the port administration HPA, ship's doctor, terminal operator CGH.
In practice: a new anti-gene test. According to the Hamburg developer, it delivers a reliable corona result in 15-20 minutes. Usually even faster, we're talking about eight minutes!
The usual quick tests up to now - according to Tui Cruises they were carried out in parallel yesterday - need 6-48 hours for results (PCR test, throat swab).
https://www.bild.de/regional/hamburg/hamburg-aktuell/streng-geheim-traumschiff-crew-testet-neues-corona-blitz-verfahren-72977960.bild.html
TUI AG receives commitment of the German Federal Government for a KfW loan in the amount of € 1.8 billion
TUI AG (TUI)
27-March-2020 / 17:39 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
TUI AG receives commitment of the German Federal Government for a KfW loan in the amount of € 1.8 billion
Hanover, 27.03.2020. TUI AG has today received commitment of the German Federal Government for a €1.8 billion KfW loan to increase TUI's existing €1.75 billion credit agreement ('Revolving Credit Facility'). The KfW loan is subject to the approval of the banking consortium in regards to the necessary amendments of the Revolving Credit Facility. Thereby, TUI would have currently cash and available facilities of €3.1 billion. TUI decided to apply for the KfW loan to soften the unprecedented effects of the COVID 19 pandemic until normal business operations can be resumed.
One of the conditions of the KfW loan is that TUI de facto waives dividend payments for the term of the credit line.
TUI's Executive Board is continuously evaluating the impact on our operations from the development of the COVID 19 pandemic and is implementing a variety of actions to support our customers, colleagues and stakeholders. The health and safety of our customers and employees remain our top priority during these exceptional times.
what if the panel rules for bankruptcy and pay out of the CDS? In case of a bankruptcy all noteholders can ask for repayment based on the offering memorandum ???
"If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer occurs and is continuing, the principal of and accrued but unpaid interest on all the Notes will become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders"
1) You don't need 25 % of nominal value you just need 25 % of participating value:
Introduce a definition of “Qualified Majority Noteholders” as defined in the Common Terms
Agreement, meaning Noteholders, which have at the end of the relevant date voted in the
affirmative to the request in question and represent not less than 75% of the Participating Notes
on such date, where “Participating Notes” means on any date, all Notes for which consent or
voting instructions have been validly delivered and not revoked at the end of business on such
date for both issues of Notes;
2) There are 2 bonds: 2020 about € 750 m and 2023 about € 400 m with separate Votings.
So 261 m ( currrency ?) could be easily enough
https://www.aero.de/news-32531/Tui-will-mit-Condor-fliegen.html
Tui wants to fly with Condor
HANNOVER - Thomas Cook wants to split off its airline business. According to a report of the "Handelsblatt" competitor Tui senses a rare opportunity on a joint Venure with Condor. The last attempt at a similar venture tucked Tui a lot of trouble with the flying staff.
Days of the decision in Thomas Cook: the ailing travel group is facing a split. The Chinese major shareholder Fosun wants to take over the tour operator and hotel business, banks and bondholders are to receive the majority of the flight business.
It is still unclear whether this will work - according to a report by the Times, the British aviation authority CAA is already preparing for the case of a grounding of the Thomas Cook airlines.
In the crisis, competitor Tui sees an opportunity. The "Handelsblatt" reports on "talks" between Tui and Condor about a shared holiday plane. Tui boss Friedrich Joussen wants to outsource the flight operations to the new joint venture - thereby minimizing his own costs and risks in the airline business.
The idea is not entirely new: in 2016, Tui had negotiated with Air Berlin and its major shareholder Etihad Airways about a joint holiday plane. The talks caused considerable unrest in the Tui workforce to a wildcat strike.
This time, Tui apparently wants to get the flying staff on board early: in a letter dated 27 August, quoted by the "Handelsblatt", the Tui airline management announces its intention to "take advantage of market opportunities," this should be in the next Months ".
© dpa-AFX, aero.de | Fig .: TUIfly | 17.09.2019 08:47
Thomas Cook’s Rescue Tests Reputation of Default Protection
(Bloomberg) -- The $10 trillion market for derivatives that pay out if a company goes bust faces a test of its credibility as U.K. travel agent Thomas Cook Group Plc heads toward a $1.1 billion rescue.Thomas Cook filed for Chapter 15 bankruptcy protection in the U.S. on Monday as part of a broader debt restructuring. But the filing stopped short of stating the company is insolvent, an ambiguity ambiguity that means hedge funds holding credit-default swaps insuring Thomas Cook debt may not get their money.
Investors holding the swaps are already battling against a technicality in the terms of Thomas Cook’s planned debt restructuring that threatens to make their CDS holdings worthless. The rescue centers on converting Thomas Cook debt into equity, which leaves the swaps with no bonds to insure.“Buying insurance against a default and then being unable to claim when the company does actually default de
Read more at: https://www.bloombergquint.com/business/thomas-cook-s-rescue-tests-reputation-of-default-protection
Copyright © BloombergQuint
Read more at: https://www.bloombergquint.com/business/thomas-cook-s-rescue-tests-reputation-of-default-protection
Copyright © BloombergQuint
Read more at: https://www.bloombergquint.com/business/thomas-cook-s-rescue-tests-reputation-of-default-protection
Copyright © BloombergQuint