Financial Statements Related parties
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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 investment by Riu Hotels S.A. listed in the notes on the consolidated financial statements as at 31 December 2007 continued to be held unamended as at the cut-off date for the interim financial statements. More detailed information on related parties is provided in the notes on the consolidated financial statements for 2007 under ‘Other notes’.