Europe’s largest 188bet best bookmaker company can’t stand it anymore.

After the epidemic hit its hotel hard、Aviation、After travel agency business，188bet best bookmaker Group, Europe’s largest traditional travel agency, announced that it will lay off 8,000 people。

Only one month in March，188bet best bookmaker loses 3.6 billion，The company still has hundreds of billions in debt，Even after recently receiving tens of billions of government loans，188bet best bookmaker’s current situation is still very difficult。May 4，There were 8 confirmed cases on a cruise ship owned by 188bet best bookmaker，Nearly three thousand crew members are quarantined，Including 58 Chinese crew members。

Under the heavy pessimism，188bet best bookmaker CEO sets a timetable for tourism recovery: European tourism will restart in July this year，Comprehensive recovery of tourism industry in 2022。

The leading European tourism industry laid off 8,000 people and its stock price fell by three-quarters in one year

May 13, Beijing time，188bet best bookmaker Group, Europe’s largest travel company, announced in its semi-annual report for fiscal year 2020 (October 2019 to March 2020)，Due to the impact of the new coronavirus epidemic，The group suffered serious losses，Plan to lay off 8,000 people worldwide，This accounts for more than 10% of its total employees。

The group spokesperson said，The layoffs will reduce the group’s administrative expenses by 30%。188bet best bookmaker also pointed out in the statement，“Our goal is to permanently reduce the cost of the entire group by 30%，As a result, the 8,000 jobs eliminated will not be rehired。”

The company stated，Due to the sharp decline in its turnover and income in the quarter，Therefore, the cost savings can only partially make up for the loss of efficiency decline。The 188bet best bookmaker expects its net loss to exceed 7% in the second quarter of this year.600 million euros。

It is reported，It has an independent travel agency under the 188bet best bookmaker Group、Grounding mechanism、Hotel、Airline、Cruise Company，These businesses have been fully impacted by the COVID-19 epidemic。

188bet best bookmaker Group Name，"In recent decades，The tourism industry has withstood a series of macroeconomic shocks；But，Without a doubt，The COVID-19 pandemic is the biggest crisis the industry and 188bet best bookmaker have ever faced。”

The group stated in the statement，Normally，During the summer vacation season，188bet best bookmaker Group owns 70,000 employees，And even in the off-peak travel season，The group will also own about 60,000 employees。

according to financial report，As of December 2019，The number of employees of 188bet best bookmaker Group is 56448。And by the end of March this year，188bet best bookmaker’s number of employees dropped to 53525。

Estimated based on the number of employees at the end of March this year，188bet best bookmaker after laying off 8,000 employees，The number of employees will fall below 50,000。

Previously，Affected by public health events，The group was forced to cancel all 188bet best bookmaker plans in March。

188bet best bookmaker CEO Joussen said，188bet best bookmaker’s business model is quite complete，Serving more than 21 million customers。But the biggest difficulty now is the international travel restrictions，This results in the company currently having no products，No income either。This situation must be mitigated。

May 13, Beijing time，After news of layoffs broke，As of the close of European stocks，188bet best bookmaker shares fell 1 on the Frankfurt exchange.38%，Close price is 3 euros。

Since this year，188bet best bookmaker’s stock price has fallen by 73.55%，Nearly three quarters。

Order Innovation High School reported a loss of 6.3 188bet best bookmaker at the beginning of the year and 80% of British employees have already been furloughed

188bet best bookmaker Group’s business is almost all over the world，Data as of the end of September 2019，It serves more than 20 million customers in 115 countries，There are 150,000 destination activity products。2017，188bet best bookmaker also ranks 499th in the Fortune Global 500 list，is the only traditional travel agency on the list。

Due to different statistical standards，Different statistical agencies have certain disputes over the ownership of the world’s number one travel company。But according to the ranking of Pincheng Tourism, a tourism industry chain portal，188bet best bookmaker Group is the world’s largest comprehensive tourism and leisure service company。

And this giant is not "immune" to the new crown，188bet best bookmaker has about 150 aircraft，18 cruise ships，It will be basically suspended for at least the next month。Last year，Its 15 Boeing 737MAX aircraft (accounting for 10% of the total aircraft fleet)，The company’s performance has been seriously dragged down by the grounding incident。

As an extremely high amount of assets，Aircraft will incur huge depreciation on a daily basis，The debt incurred when purchasing the aircraft will also consume more financial expenses，Once a large number of aircraft are grounded，These huge costs will not be covered by any revenue。

Previously，188bet best bookmaker mentioned in the financial report，If Boeing 737MAX can resume flying at the end of April，The company is expected to reduce losses in fiscal year 20200.€900 million-1.Between 1.5 billion euros。

The impact of the new crown epidemic on 188bet best bookmaker is also reflected in its financial report。May 13，The world’s travel giant released its semi-annual report for fiscal year 2020，Poor performance in various indicators。

Semi-annual report display，Between the beginning of October 2019 and the end of March 2020，The company’s loss before interest and tax is 8.1.3 188bet best bookmaker euros，approximately 6.3 188bet best bookmaker yuan；Compared to the same period last year，Loss range expanded by 5.1.2 188bet best bookmaker euros。

And the first five months of fiscal year 2020，188bet best bookmaker Group’s loss before interest and tax is only 3.4.3 billion euros，Loss reduction 0 compared with the same period last year.6.2 billion euros。And only one month is March，188bet best bookmaker Group suffered a loss 4.700 million euros，Approximately RMB 3.6 billion。

188bet best bookmaker Group Name，Only in March this year，The company’s total expenses related to COVID-19 and Boeing 737 MAX reach 4.700 million euros，Approximately 3.6 billion RMB。

In the semi-annual report，188bet best bookmaker Group also “cryed injustice” for itself。Actually，The company achieved its best ever order performance in January 2020，But due to COVID-19 it escalated into a pandemic，The last month of the second quarter saw an unprecedented pause in global travel，This black swan event has greatly dragged down the company’s performance。

Back on April 1st，188bet best bookmaker announces its 1.10,000 employees (1 in total.More than 30,000 employees) are on unpaid leave。

Among them，4455 employees on furlough are travel agency employees，6545 employees on furlough are crew members、Pilots, etc.。188bet best bookmaker said it is already taking measures to solve this problem，In particular, some insurance benefits are paid to employees through the government’s unemployment reserve program。

188bet best bookmaker, with hundreds of billions of debts, is facing serious financial pressure. Tens of billions of government loans may not lead to substantial improvement

Except for layoffs，To relieve financial pressure，188bet best bookmaker will also reduce capital-intensive operations，And will continue to adopt asset protection strategies in the hotel and cruise businesses。

Also，188bet best bookmaker will also appropriately adjust the scale of aircraft purchases，More consideration should be given to operating aviation business in the form of aircraft leasing。

But 188bet best bookmaker CEO said，Despite recent efforts to cut costs by 70%，But it is running at 2 per month.Cash consumption at a rate of 500 million euros (approximately RMB 1.9 billion)。Add non-cash costs such as aircraft depreciation，188bet best bookmaker’s monthly loss may remain at the level of March’s monthly loss of 3.6 billion。

In recent years，188bet best bookmaker adopts an asset-heavy operation strategy，Purchased a hotel、Large assets such as aircraft，This makes it face the burden of huge debt and interest burden。

As of the end of March 2020，188bet best bookmaker’s total assets are 18.3 billion euros (approximately RMB 141.1 billion)，The owner’s equity is only 2.8 billion euros (approximately RMB 21.5 billion)，Total liabilities are as high as 15.4 billion euros (approximately RMB 118.7 billion)，The asset-liability ratio is as high as 84%。

Recent，A loan of 1.8 billion euros (equivalent to nearly 14 billion yuan) alleviates 188bet best bookmaker’s urgent needs，This loan comes from the German Development Bank，If finally approved，Its cash and credit totaling €3.1 billion。

To obtain this loan，188bet best bookmaker needs to give up its quarterly shareholder dividend for fiscal year 2019。In the context of monthly consumption of RMB 1.9 billion，This loan of nearly RMB 14 billion can only support about 7 months of capital consumption。

Also，This loan must be repaid in 2022，This further increases 188bet best bookmaker’s debt pressure。

There is still pressure on 188bet best bookmaker to recover its performance in the second half of the year，CEO expects the tourism industry to fully recover in 2022

In the semi-annual report，188bet best bookmaker expressed a "relatively optimistic" attitude towards its performance in the second half of the year。

188bet best bookmaker，“We expect that in the second half of this year，People travel differently，But we firmly believe that our customers still want to vacation。Online surveys on our website also indicate，Customers are still actively researching vacations and destinations。”

188bet best bookmaker thinks，Very likely to benefit from the recovery from the COVID-19 crisis。“188bet best bookmaker’s market leadership and relationships with suppliers、Long-term relationships between retailers and tour operators，Meaning that 188bet best bookmaker will play an important role in the revival of the industry。”

188bet best bookmaker also mentioned，Greece、Cyprus、Portugal、Balearic Islands、Ministries of foreign tourism in destinations such as Austria and Bulgaria are making extensive preparations for returning tourists。

In the semi-annual report，188bet best bookmaker also emphasized that it has strong “resilience”，And after the COVID-19 crisis subsides，188bet best bookmaker will become stronger and leaner。

188bet best bookmaker also stated that it will resume this year’s tourist routes by maintaining social distance and continuous disinfection，“We’re also reinventing the holidays for 2020: new destinations、Adjust travel season、New local product、More Digitization。”

Even so，If COVID-19 is not under control，188bet best bookmaker’s performance in the third quarter of fiscal year 2020 may not improve。

It is reported，The travel giant’s business is greatly affected by seasons，As a company operating primarily in the Northern Hemisphere，Usually 188bet best bookmaker operates at a loss from October to March of the following year，This is mainly due to the company’s large number of hotels、Travel agency industry，Turn around losses only during the summer vacation season。

And the new coronavirus is raging，Not only will the company’s losses increase during the off-season，It will also make 188bet best bookmaker lose money in the upcoming tourist season this year。

BBC report，Currently in the UK，The Department of Foreign Affairs and Trade continues to provide advice on all non-essential foreign 188bet best bookmaker，But no indication of when the policy might change。Health Secretary Matt Hancock said on Tuesday，A “big one” is unlikely to happen this summer、Luxury international vacation”。

Previously，According to the global travel warning issued by the German federal government，188bet best bookmaker Group has recently decided to suspend the company’s related businesses until mid-June。But 188bet best bookmaker Group still hopes，Be able to resume some tourism projects in Germany in mid-May。

188bet best bookmaker CEO Fritz Joussen also remains optimistic about the recovery of the tourism industry。After announcing layoffs，In an interview with Reuters, he said that European holidays will restart in July，“I think 2022 at the latest，We will see a full recovery in tourism。”

Nearly 3,000 crew members on one of its cruise ships were observed, and there were 58 Chinese crew members on board

The 188bet best bookmaker Group, which is already in deep crisis，Recently, we encountered another incident of collective diagnosis of cruise ship crew members。

May 4，German 188bet best bookmaker Group announced，A total of 8 crew members of the "Meshif 3" cruise ship were diagnosed with the new coronavirus。There are currently about 2,900 people on board as crew members，Including 58 Chinese crew members。　　

It is reported，The cruise ship "Meschiff III" arrived in Cuxhaven in northern Germany on April 28。April 30，One crew member tested positive，Later was sent to the hospital in Cuxhaven for isolation treatment。The cruise ship sent away its last batch of tourists in 188bet best bookmaker，There are currently about 2,900 people on board as crew members。

The Chinese Consulate General in Hamburg has dispatched a working 188bet best bookmaker on the 2nd，Sent urgently needed epidemic prevention supplies to 58 Chinese crew members on the cruise ship。

May 5，The consulate confirmed that no Chinese personnel on the cruise ship were diagnosed，All Chinese crew members are currently in good health。

*Source of 188bet best bookmaker article: Sino-Singapore Jingwei, original title：《8,000 layoffs！Europe’s largest 188bet best bookmaker company has a debt of 100 billion and a monthly loss of 3.6 billion》.