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DSSELDORF (Dow Jones) – Tui CEO Fritz Joussen calls for a rescue package for travel agents. “Many medium-sized companies can no longer hold out for long. The margins for tour operators and travel agencies are too low for this. I support non-refundable transfer assistance for travel agencies,” he told the Rheinische Post (Saturday edition).
Joussen does not rule out Tui applying for government aid again. The company has already received a state-backed loan of 1.8 billion euros. “With the state loan, we have secured liquidity for the coming time and reduced costs by 70 percent. After the travel warning ended in mid-June, it is now a matter of selling travel. For me, sales are the way to get out of the crisis But of course we have to be prepared for all scenarios, no one knows how long this crisis will continue to affect the tourism industry. ”
From the end of June, Europe’s largest tourism group plans to fly to Mallorca and other destinations again, as Joussen told the Rheinische Post. “We want to resume air traffic to Mallorca in mid / end of June. Austria, Greece, Cyprus, Croatia, Bulgaria are also very well prepared. The hotel season should start there on July 1 at the latest. We speak like the Foreign Office also with Turkey. There will be a dynamic of openings because there is no reason for a permanent lockdown of tourism. ”
Joussen expects low prices: “In principle, all countries have a lot of free capacity in 2020. This ensures cheap offers. But some regions like Germany are particularly popular in the first few weeks, so it looks the other way around.”
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(END) Dow Jones Newswires
May 22, 2020 18:00 ET (22:00 GMT)