Tui seeks fresh cash injection to speed up Covid state aid repayments

In March, Tui said it would return around €700 million in state aid during April. "Tui continues to execute its goal of rapidly deleveraging the group, reducing interest costs and further reducing Covid state aid," said Tui in a statement on Tuesday.

"We are implementing what we announced and committed to: the further repayment of the Covid aid, and we are doing so as fast as possible," said Joussen. "Our goal is to return to normality quickly and focus on new growth. We are in stable waters, the market is intact, and we expect a strong summer of travel and a good fiscal year.

"For the current full year 2022, we therefore expect to return to significantly positive earnings. With the transformation and realignment of the group, Tui is leaner, more digital and more efficient. This is the basis for continuing to steadily and swiftly reduce the Covid financial support and lower our debt and interest costs."