TUI AG

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TUI AG
Type Aktiengesellschaft
Traded as FWBTUI1
OTC Pink: TUIFY
Industry Hospitality, Tourism
Founded 2002 (rename of Preussag AG to TUI AG)
Headquarters Hannover, Germany
Area served Global
Key people Michael Frenzel (CEO and chairman of the management board), Dietmar Kuhnt (Chairman of the supervisory board)
Products Charter and scheduled passenger airlines, package holidays, cruise lines, hotels and resorts
Services Travel agencies
Revenue Increase €18.33 billion (2012)[1]
Operating income Increase €538.8 million (2012)[1]
Profit Increase €141.9 million (2012)[1]
Employees 73,812 (2012)[1]
Website www.tui-group.com
TUI head office in Hannover

TUI AG (German: TUI(Touristik Union International) Aktiengesellschaft) is a German multinational travel and tourism company headquartered in Hannover.[2] Until 2001 it was an industrial and transportation company named Preussag AG, which in the mid-1990s decided to reinvent itself as a tourism, shipping, and logistics company. It sold off many of its industrial concerns and purchased several major travel and transportation firms.

Today it is one of the world's largest tourist firms with interests across Europe. It owns travel agencies, hotels, airlines, cruise ships and retail stores. Major subsidiaries include TUI AG Airlines, the largest holiday fleet in Europe, and UK-based tour operator Thomson.

TUI AG was also one of the world's largest shipping companies, having its logistics activities bundled within Hapag-Lloyd AG and concentrated on the shipping sector. Hapag-Lloyd is no longer an operating unit of the business however, a majority stake having been sold to the Albert Ballin consortium of investors in March 2009.[3] TUI AG had 38.4 percent of the shares, but was expected to sell much of the Hapag stake to Ballin in February 2012, as it worked to exit from the shipping business and to optimize its tourism business with expansion in Russia, China and India.[4]

In June 2014 the company announced it would fully merge with its 55%-owned UK subsidiary TUI Travel, creating a united group with a value of $9.7 billion.[5]

Some data of TUI:

  • approx. 3,500 travel agencies
  • 79 tour operators in 18 countries
  • over 120 aircraft
  • 37 incoming agencies in 31 countries
  • 12 hotel brand in 28 countries with 285 hotels and around 163,000 beds
  • 10 cruise liners

History[edit]

  • 1968 creation of TUI (Touristik Union International) an association of the medium-sized companies Touropa, Scharnow-Reisen, Hummel Reise and Dr. Tigges-Fahrten.
  • 1970 airtours international and TransEuropa integrate to TUI; Creation of ROBINSON Club (with the group Steigenberger)
  • from 1972 participation to different hotel brands (et al. Iberotel 1972, RIU 1977, Grecotels 1981)
  • 1990 the name of the main tour operator is "TUI Schöne Ferien"
  • 1995 Creation of TUI Nederland and TUI Austria
  • 1996 Creation of TUI Suisse
  • 1996 Creation of TUI Belgium
  • 1998 Acquisition of the group Preussag/Hapag-Lloyd and rename to Hapag Touristik Union (HTU)
The TUI logo
  • 2000 HTU was renamed to TUI Group
  • 2001 TUI Group is now 100% subsidiary of Preussag AG
  • 2002 Rename of Preussag AG to TUI AG
  • from 2002 reorganisation from a mixed company to tourism company.
  • 2004 The bank WestLB sell their participation (31,4%) from the TUI AG. New shareholders are Spanish investors (Family Riu, Grupo de Empresas Matutes, Caja de Ahorros del Mediterraneo).
  • 2005 TUI sells subsidiary VTG AG to Compagnie Européenne de Wagons.
  • 2005 The shipping activities are grouped under the Hapag-Lloyd. With the acquisition of CP Ships it becomes the fourth largest worldwide container shipping company.
  • 7 April 2005, was a historic day for the Indian Travel and Tourism industry when a joint venture was signed between the world’s largest travel group, TUI AG and LPTI.
  • 2006 TUI AG sells business travel subsidiary TQ3 to BCD Holdings N.V.
  • 2007 TUI AG tourism division merges with First Choice Holidays PLC to form TUI Travel PLC
  • 2014 Tui AG announces it will absorb Tui Travel in a full-scale merger[6]

Organisation[edit]

On 3 September 2007 the tourism division of TUI AG merged with First Choice Holidays PLC to create TUI Travel PLC, an international leisure travel group listed on the London Stock Exchange. TUI AG owns 56%[7] of TUI Travel PLC, operating in 180 countries and serving 30m customers. It is headquartered in Crawley, West Sussex, United Kingdom. It is a constituent of the FTSE 100 Index, with around 155 aircraft and 3500 retail outlets in Europe and employs 54,000 people worldwide. The company mainly serves the leisure travel customer and is organised and managed through four business sectors: Mainstream, Specialist and Emerging Markets, Activity and Online Destination Services. This has now moved full control of TUI's tourism division directly to TUI Travel PLC.

Human rights[edit]

The TUI AG has been criticized by human rights groups for helping to fund the Burmese regime. The company was added to the Burma Campaign UK's Dirty List[8] in 2008 for indirectly funding the Burmese regime by selling tours/holidays to the country.[citation needed]

Sponsorship[edit]

TUI sponsors Bundesliga club Hannover 96. The airline branch TUIfly's main hub is at Hannover-Langenhagen Airport and it has sponsored the football team since the 2002-2003 season. On 31 March 2011, TUI announced Hannover 96 would be playing "with a smile on their chest" for another 3 years, as it extended the sponsorship contract. When the current sponsor contract runs out, it will make TUI the longest running association with any of the 18 Bundesliga teams, with 12 years as the sponsor. As part of the sponsorship TUI will be the shirt sponsor, as well as having advertisements on the perimeter fencing of the AWD-Arena, Hannover's home stadium. There is also advertising in the stadium, on the billboards by the pitch and banners around the stadium, and TUI will also remain the sponsor of the Hannover 96 Soccer School.[9]

References[edit]

  1. ^ a b c d Annual Report 2011/12
  2. ^ "Contact TUI Group." TUI AG. Retrieved on 29 May 2009.
  3. ^ Kuehnen, Eva (23 March 2009). "TUI AG completes sale of Hapag-Lloyd unit". Reuters. Retrieved 8 August 2010. 
  4. ^ "TUI AG set to agree Hapag-Lloyd deal this week". 12 February 2012. 
  5. ^ Tui Travel agrees to merger with German majority stakeholder | International Travel News
  6. ^ Tui Travel agrees to merger with German majority stakeholder | International Travel News
  7. ^ http://www.tuitravelplc.com/investors-media/shareholder-centre/significant-shareholders
  8. ^ Burma Campaign
  9. ^ "TUI extends contract as main sponsor of Hannover 96". TUIfly. 31 March 2011. Retrieved 31 March 2011. 

External links[edit]