TUI AG – Temporary suspension of the vast majority of all travel operations due to COVID-19 and implications for Guidance 2020 | TUI Group - One of the world's leading tourism groups

March 15, 2020

TUI AG – Temporary suspension of the vast majority of all travel operations due to COVID-19 and implications for Guidance 2020

Ad Hoc Releases

Hanover, 15 March 2020, 23:53am CET. 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.

ANALYST & INVESTOR ENQUIRIES

Mathias Kiep, Group Director Investor Relations
and Corporate Finance

Tel:
+44 (0)1293 645 925/
+49 (0)511 566 1425

Nicola Gehrt, Director, Head of Group Investor Relations

Tel: +49 (0)511 566 1435

Contacts for Analysts and Investors in UK, Ireland and Americas

Hazel Chung, Senior Investor Relations Manager

Tel: +44 (0)1293 645 823

Corvin Martens, Senior Investor Relations Manager

Tel: +49 (0)170 566 2321

Contacts for Analysts and Investors in Continental Europe, Middle East and Asia

Ina Klose, Senior Investor Relations Manager

Tel: +49 (0)511 566 1318

Media

Martin Riecken, Head of Corporate Communications
Group Corporate & External Affairs

Tel: +49 (0)511 566 6020

TUI AG – Temporary suspension of the vast majority of all travel operations due to COVID-19 and implications for Guidance 2020

March 15, 2020