8,000 jobs could go at TUI as the company trims overheads by 30% in a bid to stay afloat.
TUI Chief Executive, Fritz Joussen says hotels across Europe are preparing to reopen.
"The season starts later, but could last longer and for 2020 we will also reinvent the holiday with new destinations, local holiday deals and more digitalisation," he said.
The company suspended virtually all of its package deals, cruises and hotels in March to help stop the spread of Covid-19.
TUI has confirmed first quarter losses of 763.6 million euros in 2020 compared to a loss of 203.8 million for the same time last year and quarterly turnover also fell from 3.10 billion euros in 2019 to 2.79 billion this year.
The company has already received a 1.8 billion euro state-backed loan in Germany and claims that customer demand is strong and more than a third of its 2020 summer program is already booked.
TUI employs around 60,000 people and takes on another 10,000 during the summer season.