Thanks to the vaccine and rapid tests: Tui boss will soon see people traveling again

Like many other people, the head of the travel company Tui has high hopes for a vaccine against the coronavirus. He expects a quick return to normalcy, but does not rule out government aid and the sale of corporate property for the coming year.

The head of the travel company Tui, Friedrich Joussen, who was badly hit by the corona pandemic, expects a vaccine to normalize business soon. "If the vaccination is really successful and sufficient doses are available, a lot will return to normal: culture, sport and also travel," Joussen told "Spiegel".

Tui 4.29

"But the vaccinations will take time," said the Tui boss. It is therefore important that rapid tests are soon available in sufficient numbers. "Not everyone has to be vaccinated to get the country out of the crisis," he told "Spiegel". "If, for example, risk groups can be effectively protected, normalization of everyday life is conceivable beforehand," says Joussen.

2021 will be a transition year for Tui, and for 2022 the company is assuming demand at pre-crisis level, explained Joussen. Until then, he does not rule out further state aid for the tourism group, which has been badly hit by the Corona crisis. "At the moment we cannot and must not rule out any option, not even that we need additional credit. Neither can we rule out the possibility of raising new equity or selling parts of the company at an appropriate time."

There are assets in which investors are quite interested, such as hotel complexes and land. "We could bring part of it into real estate funds, so we have hidden reserves and, as Tui, still retain control of the product, brand and sales. At the moment there is enormous investment pressure." One thing is clear to him, however: "We do not make emergency sales that we regret a short time later."

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