Tour operator TUI explores ways to repay state aid

TUI is exploring ways to raise fresh capital to help the German travel firm pay back state bailouts, people with knowledge of the matter said. The company is working with advisers to consider options including a potential share sale, according to the people, who asked not to be named because the information is private. It is discussing raising about E1b through a capital increase, though the final size could change, the people said. TUI is likely to wait at least a few weeks before deciding whether to proceed with any fundraising, the people said. It may wait until after the summer holiday season to assess how much it needs, according to the people. The world’s largest tour operator has raised billions of euros from three bailouts since the coronavirus pandemic slammed its business ferrying mainly British and German tourists to warm-weather destinations. TUI, which operates airlines, hotels and cruise ships, has called on the German government and private investors to pitch in on prior fundraisings.<br/>