TUI AG has announced the successful completion of capital increase with subscription rights of €1.8bn to help it repay state aid received during the Covid pandemic and travel shutdowns. TUI, a travel business that operates an airline, said in a statement in German that “the nominal capital of the group will increase by around €329 million to almost $507 million”. “With the proceeds from the capital increase, the stabilisation measures of the WSF will be reduced and the KfW credit line will be significantly reduced”, TUI added, referring respectively to the German government’s economic stabilisation fund and the German state

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