Air Berlin-TUIfly cross-shareholding plans withdrawn, but TUIfly city flight takeover approved
Air Berlin and TUI Travel announced they would no longer implement the cross-shareholdings that were previously announced. However, the other commercial agreements and the strategic benefits of the transfer of TUIfly’s scheduled flying business will remain. [1161 words]
Unlock the following content in this report:
- Takeover will strengthen Air Berlins’ presence in Cologne, Stuttgart and Italy
- TUI Travel to focus on remaining touristic flights portfolio
- BlueBay acquires bonds
- Unit revenues improve in Aug-2009
- Select network expansion continues
- Union concerns
Graphs and data:
- TUI Group
- Air Berlin revenue RASK growth (% change year-on-year): Jun-2008 to Aug-2009
- Air Berlin vs AEA passenger growth (% change year-on-year): Jan-2008 to Aug-2009
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