Tui Takes Stake In Air Berlin

TUI Travel, Europe’s biggest travel company, has announced a strategic cooperation between TUIfly and Air Berlin. TUI will pay £26.5m for a 19.9% stake in Air Berlin as part of a cross-shareholding agreement.

The deal helps to TUI to establish a strategic relationship with Air Berlin, which is the second largest airline in Germany, behind Lufthansa. In return, the German carrier is to receive the same stake in TUI's German airline TUIfly, which will help to expand their reach into Stuttgart and Italy.

TUI Travel was formed in 2007, following the merger of First Choice Holidays and German operator TUI AG, which owns Thomson Holidays. Following today’s announcement, TUI were also keen to point out that the deal helps to secure the future of the airline for both customers and employees alike.