TUI Airways

[SWBKCB]

Portugal, Austria, Turkey?

[ROC10]

Originally Posted by SWBKCB

Portugal, Austria, Turkey?

I'm basing this on the current schedules so Turkey wasn't included.

Isn't Austria on lockdown? There were ferry flights out there today to bring people back but as far as I'm aware all cancelled now, although the ski season is finishing up now anyway.

Madeira is cancelled.

[Level bust]

Madira has just announced that everyone who arrives now have to go into 14 days self isolation, hence the cancellation. According to my son who is out there, those already there are exempt. Don't know about the mainland though.

[SealinkBF]

Incredible isn't it? After Monarch and Thomas Cook went, TUI seemed to be impenetrable. And now a virus that doesn't even have a brain is reducing them to their knees...

[ROC10]

Dominican Republic and Morocco now cancelled

[ROC10]

TUI: ALL Departures (Monday 16 March)

LGW
LIR
AYT (new)
SID
HRG

MAN
BVC
HRG

BHX
RMF
HRG
CUN

BRS
HRG

[pabloc]

Originally Posted by SealinkBF

Incredible isn't it? After Monarch and Thomas Cook went, TUI seemed to be impenetrable. And now a virus that doesn't even have a brain is reducing them to their knees...

every airline at the moment!!!

[Vokes55]

I don’t think TUI are any more “on their knees” than any other airline at the moment.

[LTNman]

TUI is a holiday company with an airline and not just an airline. Does that complicate things?

[Buster the Bear]

https://www.travelweekly.co.uk/artic...vel-operations

[USERNAME_]

Originally Posted by Vokes55

I don’t think TUI are any more “on their knees” than any other airline at the moment.

No denying that, but one could argue that given the issues TUI had last year, there are other airlines/tour operators who are sitting on a comfier cash reserve than TUI, compared to the likes of Jet2 or Easy perhaps.

[SealinkBF]

Originally Posted by Vokes55

I don’t think TUI are any more “on their knees” than any other airline at the moment.

Not the point I was making

[DanAir89]

Per daily mail

Travel giant Tui suspends vast majority of travel operations until further notice as British Airways axes 75 per cent of its flights and EasyJet announces further cancellations

[Vokes55]

Originally Posted by SealinkBF

Not the point I was making

What point were you making then? In fact I don’t see much point at all to your post.

[SealinkBF]

Originally Posted by Vokes55

What point were you making then? In fact I don’t see much point at all to your post.

But you saw fit to reply to it. 🤣

[SWBKCB]

Leisure group TUI is applying for state-aid guarantees to support its business until it can restore normal operations, after suspending most of its travel operations.
TUI says it is halting the “vast majority” of its package travel, cruise and hotel activities to assist with the efforts to counter the coronavirus outbreak.
The company has cash and available facilities of around €1.4 billion, it says, and it is taking “substantial” cost measures to limit the impact on earnings.
“We have decided to apply for state aid guarantees to support the business until normal operations are resumed,” it adds.

Flight - TUI seeks state guarantees as travel market collapses

[SealinkBF]

Tui shares collapsed by a further 32%. The shares have fallen from 977p on 17 February to 246p on Monday – a 75% decline. The Guardian.

[LGS6753]

My understanding is that TUI has some borrowings that are due to be rescheduled, and which carry onerous covenants.Such a massive fall in the share price indicates that they are viewed in the market as fragile.

[davidjohnson6]

Originally Posted by LGS6753

My understanding is that TUI has some borrowings that are due to be rescheduled, and which carry onerous covenants.Such a massive fall in the share price indicates that they are viewed in the market as fragile.

Does one of the covenants make life more difficult if the share price is below (for example) 250 pence ?

[LTNman]

State aid from who as this is a German company.