TUI has extended suspensions to holiday and cruise programmes around the world.
Following the decision, TUI beach holidays travelling up to and including May 14th will no longer operate, while Marella Cruise holidays before May 31st have also been scrapped.
TUI River Cruise, due to launch last month, will now commence on the November 26th.
TUI blamed the collapse in global demand for travel and, specifically, a recent update from the Foreign & Commonwealth Office advising against all non-essential travel for the foreseeable future.
“We are constantly monitoring the situation and will start taking people on holiday again as soon as we are able to do so,” explained a statement from the company.
“At this point in time, nobody can accurately predict when that will be, so for the time being we will keep a close eye on our programme and continue to amend and adapt timings in line with the latest global travel advice.”
At the same time, KfW and TUI AG have confirm the signing of the state aid bridging loan for €1.8 billion.
The loan had been committed by the German federal government on March 27th as part of the Covid-19 state support programme.
TUI chief executive, Fritz Joussen, said: “Our employees are rightly proud of TUI’s success in recent years and they should continue to be in the future - after this crisis.
“We must bridge this unprecedented global situation.
“The German government has acted quickly to support jobs and companies during these exceptional times.
“We are now preparing intensively for when our operations can resume after the coronavirus crisis and firmly believe, people will continue to want to travel and explore other countries and cultures in the future.”
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