A brief portrait TUI AG – the innovative tourism and shipping group
Tourism – market leader in Europe
In 1997 the then Preussag acquired Hapag-Lloyd AG. This was a strong partner with its own chain of travel agencies, an airline and a global logistics service. By completely taking over TUI Deutschland the Group managed to secure a quality brand for package holidays. Then by acquiring the FIRST chain of travel agencies and gaining a stake in Magic Life the Group initially rounded off its range of diverse tourism activities. This was the beginning of the integrated tourism business.
A decisive move on the European market was made in 2000 with the complete takeover of the British company Thomson Travel Group – including its strong Scandinavian brands and subsidiaries, such as Fritidsresor. The same year the Preussag Group acquired an interest in the French travel company Nouvelles Frontières, which in the meantime has been completely taken over. Following further acquisitions and company formations – for instance in Belgium, in Switzerland and in Eastern Europe – the Group gained a footing in all the important markets in Europe. As a consequence the company has developed to become the leading tourism group.
In March 2007 TUI announced the formation, together with the British travel group First Choice Holidays PLC, of TUI Travel PLC in the United Kingdom. TUI has put all its tourism activities into the joint company with the exception of its hotel subsidiaries. The shares of TUI Travel plc will be traded on the London Stock Exchange for the first time on 3 September 2007. TUI AG has a 51 percent holding in one of the most profitable travel companies in the world.
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