Hanover, 8 June 2017

TUI-Etihad joint venture negotiations terminated

TUI Group and Etihad Aviation Group will not continue their negotiations about the planned joint venture between the German aviation subsidiary TUI fly and Niki. The goal of the talks between the two companies was to form a strong European leisure airline.

Sebastian Ebel, member of TUI AG’s Executive Board in charge of Central Region (Germany, Austria, Switzerland, Poland) said: “A strong European leisure airline continues to make great strategic sense. After all, the aviation sector is characterised by overcapacity in Germany. However, Niki is no longer available for a joint venture. We will push the repositioning of TUI fly further ahead in order to develop long-term prospects for the airline and its employees.”

TUI Group remains prepared to contribute to the stabilisation of the German aviation market. TUI therefore remains open for a partnership or the formation of joint ventures serving the strategic goal of reshaping the market.

About TUI Group

TUI Group is the world’s number one integrated tourism group operating in around 180 destinations worldwide. The company is domiciled in Germany. The TUI Group’s share is listed in the FTSE 100 index, the leading index of the London Stock Exchange and in the German open market. In financial year 2015/16, the TUI Group recorded turnover of €17.2bn and an operating result of €1.001bn. The Group employs 67,000 people in more than 100 countries. TUI offers its 20 million customers comprehensive services from a single source. It covers the entire touristic value chain under one roof. This comprises leading tour operator brands and 1,600 travel agencies in Europe, five European airlines with around 150 modern medium and long-haul aircraft, more than 300 Group-owned hotels and resorts with premium brands such as RIU and Robinson. With cruise ships ranging from the MS Europa and MS Europa 2 luxury class vessels to the “Mein Schiff” fleet of TUI Cruises and the vessels of Thomson Cruises in the UK, TUI is also strongly positioned in the growing cruise sector. Global responsibility for sustainable economic, ecological and social activity is a key feature of our corporate culture. TUI has joined the UN Global Compact and, as the only tourism group, it is listed in the renowned Dow Jones Sustainability Index (DJSI) World. 

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