TUI AG, the Hannover based tour operator, has decided to suspend its cruise and the bulk of its operations and withdraw its guidance for the financial year to 30 September 2020.
“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,” the company said in a statement, referring to the coronavirus outbreak.
The group’s cruise operations comprise a 50% stake in TUI Cruises and Hapag-Lloyd Kreuzfahrten in Germany and fully owned Marella Cruises in the UK.
“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,” TUI said.
