The head of the board of directors of the TUI Group, Fritz Jussen, said that he is optimistic about the upcoming summer season, especially if the authorities of European countries heed the calls of the tourism industry and reduce the cost of testing tourists. According to him, the tour operator has already accepted 2.8 million bookings for the summer season.
“The key period for us is June and beyond, so everything that is happening at the moment now is not so important. Our main profit is actually in the quarter that starts in July, ”said Fritz Jussen. “The number of vaccinations, in the UK, in the US, and now, hopefully, in Europe, also gives us confidence that the summer will be at a decent level.”
He also added that starting in July he expects to reach up to 75% of its standard summer load. At the same time, TUI expects that some countries will open borders only to vaccinated tourists. However, according to Joussen, PCR tests at border crossings will be just as effective in stopping the spread of the virus, but the cost of testing needs to be significantly reduced. Now the test for coronavirus at European airports costs from 50 euros.
“All the medical advice we receive as a company suggests that existing vaccines can cope with existing strains. Even if not all vaccines are equally effective, this is much better than no vaccination at all, ”says Jussen.
The head of TUI also spoke about the financial condition of the tourism holding, which attracted additional investments of 400 million euros in early April.
Currently, the main creditor is the German government, under whose guarantees the group received about 5 billion euros. This money was able to support TUI’s operations at a time when all borders were closed and the global tourism market virtually ceased to exist.
Germany came to the rescue during a time of great uncertainty, when the firm struggled to survive and was unable to raise money from private investors, Jussen said.
“Berlin is a very smart investor,” he added. “And Germany would like to get out of this loan as soon as possible.” At the same time, Jussen did not specify how the German authorities can withdraw from the number of creditors, who can replace them.
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