TUI suspends majority of travel operations
TUI Group has suspended the majority of its travel operations.
In a statement, the company said: "In this rapidly changing environment the safety and welfare of our guests and employees worldwide remains of paramount importance and thus TUI Group has decided, in line with government guidelines, to suspend the vast majority of all travel operations until further notice, including package travel, cruises and hotel operations. This temporary suspension is aimed at contributing to global governmental efforts to mitigate the effects of the spread of the COVID-19.
"In light of this situation, the Executive Board has decided today to withdraw the Financial Year 2020 guidance as communicated on 11 February 2020. Furthermore the Executive Board also refrains from issuing a new guidance for the Financial Year 2020 under the current circumstances.
"Due to the unprecedented escalation of COVID-19, the Board of TUI are continuously evaluating the situation and are considering a variety of actions to support our customers, colleagues and stakeholders.
"The Group has cash and available facilities of approx. €1.4bn and year-to-date performance had been in-line with expectations prior to COVID-19. We are taking substantial cost measures to mitigate the earnings effect. Moreover, we have decided to apply for state aid guarantees to support the business until normal operations are resumed."
Other operators are temporarily suspending programmes, including Intrepid and the Globus family.
Kosmar has temporarily suspended its 2020 holiday programme with immediate effect. 2021 remains on sale and unaffected. Bookings made via Tailor Made by Kosmar are not affected.
Kosmar has temporarily suspended its phone service for non-urgent queries. Anyone in resort, or due to travel within the next 72 hours should call the 24/7 Duty Office on +44 114 470 1049. Others should email: [email protected].
G Adventures is suspending tours departing between 16 March and 30 April 2020. Any traveller booked on a tour departing between 16 March and 30 April 2020 will be eligible for a 110% travel credit of all land services, including pre or post nights and transfers, which can be used on any tour departing within the next two years. G Adventures will be proactively notifying all travellers regarding their tour suspension and are advising travellers with flight bookings to contact their insurance and air provider directly for details on refunds or relaxed cancellations policies. Any tours already in operation or due to depart before 16 March 2020 will run as scheduled. Agents should call: 0344 272 0000 or email: [email protected]
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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