After stopping net world tourism for two months, the Covid-19 makes its first economic victims among professionals in the sector. And not the least. The German TUI, the largest tour operator in the world (19 billion euros in turnover last year), announced Wednesday the elimination of 8000 positions worldwide, or more than 10% of its workforce. Its activity fell by 10% in the last quarter, and the group posted a net loss of 763.6 million. The German state had flown to the aid of its flagship, granting it a loan of 1.8 billion euros, guaranteed by the public bank KfW. This loan comes with a severe savings plan. "We want to permanently reduce our administrative burdens by 30%," says the company.
Read also: Coronavirus: tourism professionals are putting together different scenarios for this summer
As a collateral victim of the coronavirus pandemic, world tourism has entered a period of doldrums of unknown duration. The sector represents 10% of the planet's GDP and 12-13% of jobs. For years he had been breaking records
This article is for subscribers only. You still have 84% to discover.
Subscribe: € 1 the first month
cancellable at any time
Enter your emailAlready subscribed? Log in