The EU Commission approves €1.25 billion German measure to recapitalize national leisure tourism group (TUI)

State aid: Commission approves €1.25 billion German measure to recapitalise TUI* The European Commission has approved German plans to contribute up to €1.25 billion to the recapitalisation of TUI AG (TUI), the parent company of the TUI Group, as part of a wider support package. The measure was approved under the State aid Temporary Framework. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “As many other companies active in the tourism sector, TUI has been hit particularly hard by the coronavirus crisis. With this measure, Germany will contribute up to €1.25 billion to TUI's recapitalisation and help the company weather the crisis. At the same time, the State will be sufficiently remunerated for the risk taxpayers assume and the support will come with

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European Commission, The EU Commission approves €1.25 billion German measure to recapitalize national leisure tourism group (TUI), 4 January 2021, e-Competitions January 2021, Art. N° 98609

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