TUI Group

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TUI Group
Type Aktiengesellschaft
Traded as FWBTUI1
LSETUIJ
Industry Hospitality, Tourism
Founded 1923 (as Preussag AG)
2002 (as TUI AG)
Headquarters Hannover, Germany
Area served Global
Key people Friedrich Joussen
(Co-CEO)
Peter Long
(Co-CEO)[1]
Products Charter and scheduled passenger airlines, package holidays, cruise lines, hotels and resorts
Services Travel agencies
Revenue Increase €18.715 billion (2014)[2]
Operating income Increase €505.6 million (2014)[2]
Profit Increase €283.9 million (2014)[2]
Employees 77,000 (2014)
Website www.tuigroup.com

TUI Group (German: TUI (Touristik Union International) Aktiengesellschaft) is a German multinational travel and tourism company headquartered in Hannover.[3] It is the largest leisure, travel and tourism company in the world,[4] and owns travel agencies, hotels, airlines, cruise ships and retail stores. The group owns six European airlines - the largest holiday fleet in Europe - and UK-based tour operator Thomson.

TUI is jointly listed on the Frankfurt Stock Exchange and the London Stock Exchange as a constituent of the FTSE 100 Index.

History[edit]

The origins of the company lie in the industrial and transportation company, Preussag AG, which was formed in 1923. Following its acquisition of Hapag-Lloyd together with its 30% shareholding in Touristik Union International (‘TUI’) in 1998, Preussag decided to reinvent itself as a tourism, shipping, and logistics company. Its logistics activities, concentrated in the shipping sector, were kept separate and bundled within Hapag-Lloyd AG. A majority stake in Hapag-Lloyd was sold to the Albert Ballin consortium of investors in March 2009[5] and a further stake was sold to Ballin in February 2012, as TUI worked to exit from the shipping business and to optimize its tourism business with expansion in Russia, China and India.[6]

TUI announced a merger of its travel division with the British tour operator First Choice in March 2007,[7] which was approved by the European Commission on 4 June 2007, on the condition that the merged company sell Budget Travel in Ireland.[8] TUI held a 55% stake in the new company, TUI Travel PLC, which began operations in September 2007.[9]

In June 2014 the company announced it would fully merge with TUI Travel to create a united group with a value of $9.7 billion.[10] The merger was completed on 17 December 2014 and the combined business began trading on the Frankfurt and London stock exchanges.[11]

Operations[edit]

The TUI logo was introduced in 2002.
TUI head office in Hannover

The new TUI Group has:[12]

  • Some 77,000 employees in 130 countries
  • 1,800 travel agencies
  • 6 airlines with 130 aircraft
  • 300 hotels and resorts

Airlines[edit]

TUI Group owns six European airlines, inherited from TUI Travel, making it the largest tourism group in Europe. The group airlines operate both scheduled and charter flights to more than 150 destinations worldwide departing from more than 60 airports in 9 European countries.

TUI Airlines carries millions of holiday travellers and business passengers every year. In 2005 it had a passenger volume of 25 million and employed more than 8,200 people.

Airline Country Image Description
Arkefly Flag of the Netherlands.svg Netherlands PH-TFF ArkeFly Boeing 737-86N(WL) - cn 35220 pic1.JPG Since 2005 Arkefly has operated charter flights from Amsterdam Schiphol Airport to destinations in Southern Europe, North Africa, the Caribbean, and Latin America.
Corsair International Flag of France.svg France Corsair Boeing 747 F-GTUI at Berlin Schoenefeld Airport.JPG Corsair International flies to 15 destinations in French overseas territories around the Mediterranean, Thailand, North Africa, and North America.
Jetairfly Flag of Belgium.svg Belgium Boeing 787 dreamliner.jpg Jetairfly has operated since March 2004 to more than 70 airports in the Europe, Red Sea, Caribbean, Canary Islands, and North Africa.
Thomson Airways Flag of the United Kingdom.svg United Kingdom Thomson B787 Dreamliner G-TUIB (9129161000).jpg Thomson Airways is the largest of the TUI airlines and the largest charter airline in the world. It has 64 aircraft and flies from 26 British airports to 109 destinations worldwide. It was formed by the merger of Thomsonfly (formerly Britannia Airways) and First Choice Airways.
TUIfly Flag of Germany.svg Germany TUIfly 738 D-ATUM 170414.JPG The former German Airlines of the TUIfly-alliance Hapag-Lloyd Flug and Hapag-Lloyd Express (now defunct as an air carrier) operated together under the brand TUIfly. Since Summer 2010 Hapag-Lloyd Flug is now officially named TUIfly.
TUIfly Nordic Flag of Sweden.svg Sweden

Flag of Denmark.svg Denmark

Flag of Norway.svg Norway

Flag of Finland.svg Finland

TUIfly Nordic Boeing 767-300ER Prasertwit.jpg TUIfly Nordic flies from Sweden, Denmark, Finland and Norway. They fly holidaymakers travelling with the tour operators Fritidsresor, Finnmatkat and Star Tour.

Cruise lines[edit]

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.[13]

References[edit]

  1. ^ "Formation of Group Executive Committee for new TUI Group". TUI Group. 15 December 2014. Retrieved 17 December 2014. 
  2. ^ a b c Annual Report 2013/14
  3. ^ "Contact TUI Group." TUI AG. Retrieved on 29 May 2009.
  4. ^ "TUI forges World’s biggest tourism operator." TUI AG. Retrieved on 29 October 2014.
  5. ^ Kuehnen, Eva (23 March 2009). "TUI AG completes sale of Hapag-Lloyd unit". Reuters. Retrieved 8 August 2010. 
  6. ^ "TUI AG set to agree Hapag-Lloyd deal this week". 12 February 2012. 
  7. ^ "First Choice to tie up with TUI". BBC News. 19 March 2007. Retrieved 24 June 2013. 
  8. ^ "First Choice-TUI merger cleared". BBC News. 4 June 2007. Retrieved 24 June 2013. 
  9. ^ Simon Lambert (28 September 2007). "Tui and First Choice to merge". This is Money. Retrieved 24 June 2013. 
  10. ^ "Tui Travel agrees to merger with German majority stakeholder". International Travel News. Retrieved 17 December 2014. 
  11. ^ Young, Sarah (17 December 2014). "TUI Travel, TUI AG merger completes". Reuters. Retrieved 17 December 2014. 
  12. ^ "The World’s number one integrated tourism business – New TUI Group begins trading on the stock exchange". 17 December 2014. Retrieved 17 December 2014. 
  13. ^ "TUI extends contract as main sponsor of Hannover 96". TUIfly. 31 March 2011. Retrieved 31 March 2011. 

External links[edit]