Tour Operators & Travel Agencies

TUI AG has signed a state-aid bridging loan for 1.8 billion euros with the KfW, Germany’s state-owned development bank, to cushion the unprecedented effects of the Covid-19 pandemic.

IATA’s CEO explains to travel agents the association’s “flexible approach” to BSP payments, due to the Covid-19 pandemic, and informs that it considers travel vouchers as “the best answer” instead of ticket refunds.

Travel sector bodies have requested for IATA to extend the deadline of BSP payments due to decreases in the cash flows of travel agencies.

As Covid-19 has brought tourism to a standstill, European travel agents and tour operators are calling for a more flexible application of refund rules for package travel.

Travel giant TUI is suspending the vast majority of all travel operations until further notice – including package travel, cruises and hotel operations – due to the coronavirus outbreak.

ECTAA has applauded the European Commission’s acknowledgement of the immense damages the coronavirus outbreak has caused to the travel and tourism industry.

Greek travel agents are calling on tourism stakeholders and authorities to jointly formulate a clear action plan in view of the coronavirus outbreak.

An increase of 13.5 percent was recorded in the turnover of Greek travel agencies in the third quarter of 2019 compared to 2018, according to ELSTAT.

Norwegian investor Petter Stordalen and private equity firms Altor and TDR Capital have signed an agreement to acquire the Nordic unit of collapsed UK tour operator Thomas Cook.

Stronger and better consumer and employee protection in cases of corporate failure is the focus of a resolution which was recently adopted by the European Parliament.