Tui said it is more optimistic about a European tourism rebound spurred by looser travel curbs and diminishing rates of coronavirus infection, even as it signalled potential turbulence in the months ahead. The world’s biggest tour operator said on Wednesday that a pick-up in demand is “clearly evident”, with reservations doubling in April. Still, the Hanover, Germany-based company now sees revenue declining in the fiscal year through September after a delayed start to the summer season. Tui is counting on a surge in bookings to revive cash flows after suffering a €1.3 billion loss in the first half through March. The group has shareholder permission to issue up to €2 billion in convertible bonds and more than €600 million in new equity.

Source: The Irish Times May 12, 2021 10:28 UTC