TUI Cancels Beach Holidays Until July 1
Travel operator TUI has cancelled all foreign holidays for British tourists until July 1 due to the COVID-19 pandemic, sending shares in the German group down 6% on Friday May 29.
The company, which had already axed departures until the middle of June, said that holidays to destinations such as Spain and Greece departing on or before June 30 have been cancelled, while its lakes and mountains trips have been stopped until October 1.
It also halted sailings on its Marella Cruises line until July 31, with additional cancellations on some vessels stretching into 2021, and said that river cruises will not restart until after November 25.
Job And Cost Cuts
Earlier this month, the travel group said that it would cut 8,000 jobs and look to shed 30% of its costs as it geared up for a July restart to European tourism.