Let’s hear it for the tourism optimists8 Jan 2021 12:28
Let’s hear it for the tourism optimists
"Fritz Joussen, Tui’s executive chairman, is the eternal optimist. Throughout the crisis he has been making positive statements, typically to find that they are rendered redundant by circumstances. His latest observation - “relative normality” kicking in for the summer - is one which we all hope will be fulfilled.
He also said that 2021 will be a year of transition. Optimist but at the same time a realist, and his mostly cheery disposition can be attributed to some extent to the knowledge that Germany’s Federal Development Bank is guaranteeing Tui a line of liquidity worth 500 million euros until July 2022.
This is by no means the only assistance heading Tui’s way. The German government intends providing another 1,250 million euros. In total, Tui will end up having received almost 5,000 million euros, a risk of insolvency now averted. Part of this aid is coming from private investors (at least a tenth of the total), and this private sector involvement has seemingly convinced the European Commission that all the rescue funding is acceptable."
https://www.majorcadailybulletin.com/comment/opinion/2021/01/08/77205/the-week-tourism-crucial-negotiations-for-the-tourism-industry.html