TUI, the world's biggest tour operator, has announced plans to scale back its global operations and cut up to 8,000 jobs as it prepares for a weaker travel and tourism market following the coronavirus pandemic.
The German government could rescue Europe's leading global airline by taking a 25% stake as part of a €9 billion ($9.7 billion) bailout.
The head of the Caribbean Hotel and Tourism Association is calling on international tour operators that have delayed paying hotels for services delivered to the operators’ clients as early as January to expedite reimbursements.
Ryanair is expected to cut as many as 3,000 jobs in the wake of the coronavirus pandemic.The low-cost carrier grounded all flights in mid-March.
Airbnb is rolling out recommended cleaning and vacancy procedures for its more than 7 million global rentals as the coronavirus pandemic has made travelers extra-cautious about cleanliness and safety.
Estimates have it that somewhere in the neighborhood of €275 to €400 billion will be lost for Europe's tourism and travel sector because of this global pandemic
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