Editing TUI Group (section)

===Development since 2020===
In August 2020, the company reported a net loss of €2.3 billion (from October 2019 to June 2020) as a result of the [[COVID-19 pandemic]]. Out of the sum, €1.5 billion loss related to the period from April to June 2020, while the revenue for the same period was €75 million, 98% less than the same period in 2019. TUI's chief executive officer, Fritz Joussen announced that the firm was considering selling the Marella cruise line.<ref>{{cite news|url=https://www.ft.com/content/f1898c97-2479-4ced-bfa1-dc417945f919|title= Tour operator Tui considers disposals after racking up €2.3bn loss|work=Financial Times|last=Hancock|first=Alice|date=13 August 2020|access-date=13 August 2020}}</ref>

In March 2022, the company's largest single shareholder, Alexey Mordashov, a Russian oligarch and confidante of [[Vladimir Putin]], was placed under sanctions due to the [[2022 Russian invasion of Ukraine]].<ref>{{Cite web |date=2022-03-02 |title=Alexei Mordashov: Russia's richest man is now an EU sanctions target |url=https://www.theguardian.com/news/2022/mar/02/alexei-mordashov-russias-richest-man-is-now-an-eu-sanctions-target |access-date=2022-03-05 |website=The Guardian |language=en|last=Partridge|first=Joanna}}</ref><ref>{{Cite web |last=Welle |first=Deutsche |title=The Russian oligarchs of the FinCEN Files {{!}} DW {{!}} 26.09.2020 |url=https://www.dw.com/en/the-russian-oligarchs-of-the-fincen-files/a-55062675 |access-date=2022-03-05 |website=DW.COM |language=en-GB}}</ref><ref>{{cite news |last1=Джонс |first1=Пит (Jones, Pete) |last2=Стэк |first2=Грэм (Stack, Graham) |url=https://www.occrp.org/en/cyprus-confidential/cyprus-wing-of-auditing-giant-pwc-may-have-breached-sanctions-in-work-for-oligarch |title=Кипрский филиал аудиторского гиганта PwC, вероятно, нарушил санкции при работе на российского олигарха: Утечка документов показала, что PwC Cyprus поспешила реструктурировать компании российских олигархов, когда возникла угроза санкций. Власти Кипра заверяют, что расследуют эпизод, когда PwC предположительно завершила сделку по продаже акций россиянина через несколько дней после того, как он попал в санкционный список ЕС. |trans-title=Cyprus Wing of Auditing Giant PwC May Have Breached Sanctions in Work for Oligarch: Leaked documents show staff at PwC Cyprus hurried to restructure companies belonging to Russian oligarchs as the prospect of sanctions loomed. Now Cyprus says it is investigating one case in which PwC staff appeared to work on the transfer of an oligarch’s assets in the days after he was sanctioned by the EU. |language=ru |work=[[OCCRP]] |date=14 November 2023 |access-date=16 November 2023 |archive-date=17 November 2023 |archive-url=https://web.archive.org/web/20231117033844/https://www.occrp.org/en/cyprus-confidential/cyprus-wing-of-auditing-giant-pwc-may-have-breached-sanctions-in-work-for-oligarch}} [https://www.compromat.ru/page_44788.htm Alternate archive]</ref><ref>{{cite news |last=Розэ |first=Анна (Rose, Anna) |url=https://www.svoboda.org/a/zhurnalist-dlya-putina-kak-hubert-zaypelj-za-denjgi-hvalil-kremlj/32685573.html |title=Журналист для Путина. Как Хуберт Зайпель за деньги хвалил Кремль: Немецкий телеканал ARD и его дочерняя телерадиовещательная компания NDR годами, уже после аннексии Крыма, внимали байкам о России от проплаченного Кремлем журналиста. По данным только что вышедшего в свет расследования, видный немецкий тележурналист Хуберт Зайпель получал из Москвы сотни тысяч евро за книги о Путине. Тем самым Зайпель стал первым западным журналистом, тайное финансирование которого Кремлем было документально доказано. |trans-title=Journalist for Putin. How Hubert Seipel praised the Kremlin for money: For years, after the annexation of Crimea, the German television channel ARD and its subsidiary broadcasting company NDR listened to stories about Russia from a journalist paid by the Kremlin. According to a just-published investigation, prominent German television journalist Hubert Seipel received hundreds of thousands of euros from Moscow for books about Putin. Thus, Seipel became the first Western journalist whose secret financing by the Kremlin was documented. |language=ru |work=[[Радио Свобода]] |date=15 November 2023 |access-date=16 November 2023 |archive-date=17 November 2023 |archive-url=https://web.archive.org/web/20231117033149/https://www.svoboda.org/a/zhurnalist-dlya-putina-kak-hubert-zaypelj-za-denjgi-hvalil-kremlj/32685573.html}} [https://www.compromat.ru/page_44791.htm Alternate archive]</ref>

In March 2023, it was announced that TUI would seek to raise $1.8 billion by selling shares at a discount to existing investors, excluding Mordashov as a result of sanctions under German securities law.<ref>{{Cite web |url=https://www.cityam.com/putin-ally-and-russian-billionaire-sanctioned-tui/ |website=City A.M. |accessdate=2023-08-15 |date=2023-03-24 |title=TUI open to new majority shareholder following resignation of sanctioned Russian billionaire}}</ref><ref>{{Cite web |url=https://www.travelgossip.co.uk/latestnews/tui-launches-e1-8bn-share-sale-but-russian-owner-is-banned/ |website=Travel Gossip |title=TUI launches €1.8bn share sale, but Russian owner is banned |date=2023-03-24 |access-date=2023-08-15}}</ref>