Related Parties

Apart from the subsidiaries included in the consolidated financial statements, TUI AG, in carrying out its ordinary business activities, maintained indirect or direct relation­ships with related parties. All transactions with related parties were carried out at arm’s length on the basis of international comparable uncontrolled price methods in accordance with IAS 24, as before. The equity stake held by Riu Hotels S.A., listed in the notes on the consolidated financial statements as at 30 September 2009, was retained unamended at the closing date for the interim financial statements. More detailed information on related parties is provided under ‘Other notes’ in the notes on the consolidated financial statements for 2009.