TUI AG

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  • Friedrich Joussen, CEO
  • Klaus Mangold, Chairman of the Board

TUI AG is a German tourism company headquartered in Hanover. The abbreviation stands for TUI Touristik Union International.

From 1999 to 2002 was part of the TUI Preussag AG, a group of companies with a focus in the mining industry. Looking for new business opportunities, Preussag transformed from a conglomerate to a service company for the leisure industry.

TUI is the largest tourism company in Europe with travel agencies, incoming agencies, hotels, airlines, cruise ships and tour operators. In addition, TUI AG holds 43.33% stake in container shipping company Hapag -Lloyd AG. The majority of Hapag -Lloyd was sold in early 2009.

The Group employed 30 September 2012, a total of approximately 73 812 employees.

TUI was listed from 1990 to 2008 in the DAX, MDAX since 2008, she is in on the Frankfurt Stock Exchange and in the Lower Saxon stock index NISAX20 noted.

Pay

TUI in numbers, as of 2009:

  • About 3,500 travel agencies in continental Europe, UK & Ireland
  • Over 30 million customers in over 27 source markets
  • Europe more than 140 aircraft with the brands TUIfly, Thomsonfly, TUIfly Nordic, Jetairfly, Jet4you, Corsairfly and Arkefly
  • 35 incoming agencies
  • 243 hotels with approximately 154,000 beds own
  • 5 cruise ships with Hapag -Lloyd Cruises and TUI Cruises
  • Loss 2008 = 142 million euros
  • Profit short financial year 2009 = 401 million euros

For the financial year 2010/2011 TUI increased its turnover to EUR 17.5 billion and a surplus of 118 million euros and an adjusted EBITA of 600 million euros. Despite the profit TUI announced that no dividend be paid to shareholders. Reason is the turbulent situation in the financial markets.

History

In 1968 the company Touristik Union International GmbH & Co. KG by TOUROPA (see Carl Degener ) Scharnow travel, travel Hummel and Dr. Tigges Reisen was founded.

In 1970, Airtours International and Trans Europe part of TUI; Establishment of Robinson Club (along with Steigenberger ). In 1972, TUI involved in various hotel chains ( under amderem Iberotel 1972, RIU 1977, Grecotels 1981). From 1978, the special train TUI Holiday Express was used.

In 1990, the organizers names were unified to " TUI Schöne Ferien ". In 1995, TUI Nederland and TUI Austria founded in 1996, TUI Suisse. 1997 were 45% of TUI shares in Hapag -Lloyd AG, 30 % of WestLB and 25 % higher than the German travel agency GmbH (including with THE tour ) of Deutsche Bahn AG. In 1998 the company was acquired by Preussag / Hapag -Lloyd and incorporated into the Hapag Touristik Union ( HTU ). Other tourism investments of TUI were 1998: 1-2 -Fly, Air Conti air travel, Airtours International and the Gebeco with 51.1 %.

2000, the HTU was renamed TUI Group. In 2001, the TUI Group was taken over by the Preussag AG and is 100 - percent subsidiary thereof. 2002 Preussag renamed in TUI AG. Thus, the large-scale restructuring that led the company away from a conglomerate and thereby become a tourism and logistics group began. WestLB sold in 2004 its 31.4 percent stake in TUI AG. First, the West German Landesbank sold its stake in the German bank, immediately adjacent to several Spanish investors handed it a part of their participation ( Riu family, group of companies Matutes, savings bank Caja de Ahorros del Mediterraneo ).

TUI sold her in 2005 under the 100 percent shareholding VTG AG pooled rail logistics business to Compagnie Européenne de Wagons. The logistics activities that are organized under the umbrella of Hapag -Lloyd AG, 2005 focused on profitable growth area navigation. With the acquisition of the Canadian container shipping company CP Ships, the group is thus one of the five largest container shipping company in the world. TUI AG sold in 2006 its business travel division TQ3 Travel Solutions to the Dutch BCD Holdings NV and sold its indirect 100 % interest in the U.S. steel trading business of the PNA Group Inc. to the financial investor Platinum Equity.

In March 2007, the Group's management announced its intention to merge a part of the tourism business with the British company First Choice Holidays, by being incorporated into the newly formed together TUI Travel. In this way arose, with a turnover of approximately 18 billion euros per year, the largest tourism group in the world. TUI AG holds in this company around 54 %. Headquarters of the new TUI Travel UK. The hotels, cruise ships and participation in Hapag -Lloyd will remain with TUI AG in Hanover.

In accordance with a decision taken on 7 September 2009 agreement, the TUI Travel PLC 8,437,393 newly issued shares in Air Berlin acquired at a price of EUR 3.97 per share. This corresponds to a stake in Air Berlin from 9.9%.

Restructuring

Eliminated at the Group's restructuring of the former Preussag AG to TUI AG, prior to the merger announcement, the ghosts. The Protection of Investors designated in their black book market in 2006 the reconstruction as " one of the greatest value exterminations in the German corporate history." The acquisition of CP Ships was " totally overpriced " (quote: manager magazin ) become worse and worse have been and profitability of the Group as a whole. The debt had risen " through the roof ". A study by economists at the Universities of Mannheim and Rotterdam calculated a loss for the investor the net conversion of up to eight billion euros, because " one has invested in an industry that was not understood " and " too much paid for company [ has ] whose value could not be increased. "

TUI announced in March of 2008, to separate from the Hapag -Lloyd container shipping business to the future to concentrate on its core business of tourism. In October 2008, the sale to the consortium " Albert Ballin", consisting of the company KM Kuehne, the city of Hamburg was ( HGV Hamburger Gesellschaft für Asset and Investment Management Ltd. ) and a number of Hamburg investors announced. The company (without Hapag -Lloyd Cruises, the 100% remained in the TUI Group ) was rated with 4.45 billion euros while before net liabilities. For two-thirds stake in the company, the Hamburg-based consortium paid 1.4 billion euros in cash. 700 million euro took over the TUI for the remaining third. TUI to the consortium, " Albert Ballin" their share to serve the law until 2012. The Hamburg merchants have already but a right of first refusal from 2010.

Shareholder

In spring 2007, the Norwegian shipping magnate John Fredriksen and financial investor is topped with 15.01% at TUI. On the TUI Annual General Meeting in May 2008 Fredriksen called a disaggregation of the Group and the dismissal of the TUI boss Michael Frenzel.Fredriksen called the Annual General Meeting on 13 May 2009, a dismissal of the chairman Jürgen Krumnow to then collect itself to the Supervisory Board. These attempts were unsuccessful.

Beginning of 2008 has gone by TUI AG, the Russian oligarch Alexei Mordaschow. By July 2008 he had increased its stake to 15.03 percent, making it the single largest shareholder, ahead of John Fredriksen.

After the end of September 2012 revealed the following shareholder structure:

  • 25.03 % - S- Group Travel Holding ( Alexei Mordaschow )
  • 15.01% - Monteray Enterprises Ltd.. ( John Fredriksen )
  • 5.10% - RIU S. A. (Family Riu Güell )
  • Approximately 40.00 % - Institutional investors
  • About 15.00 % - private investors

TUI Group structure

TUI Travel plc

TUI Travel was formed with those of the former British travel group First Choice Holidays PLC in 2007 from the merger of the distribution, tour operator, airline and incoming activities of the TUI Group and listed on the London Stock Exchange. TUI AG is the majority shareholder of the new company that is active worldwide in over 27 source markets and over 30 million customers. The business is divided into the following four areas:

  • Mainstream
  • Specialist & Emerging Markets
  • Activity
  • Accommodation & Destinations

The offer of TUI Travel offers a wide range of package tours to niche products such as yacht charter, expeditions and student travel.

TUI Airlines airlines

TUI owns several airlines. These have been summarized previously under the umbrella brand TUIfly. Since the two TUI subsidiaries Hapag -Lloyd Flug ( Hapagfly ) and Hapag -Lloyd Express (HLX ) have been merged into a new airline with this same brand name TUIfly in January 2007, TUI their airlines sums now together under the term TUI Airlines. They are managed by TUI Airline Management. In addition to the German airline TUIfly TUI operates in France Corsairfly, in Belgium, Jetairfly and Arkefly in the Netherlands, to come into the UK Thomson Airways, TUIfly Nordic in Sweden and Morocco Jet4you.

Tour operators in the TUI

In Central Europe, the Group has several tour companies and brands in Germany, TUI Germany GmbH, 1- 2-FLY, airtours, Gebeco, L' TUR, OFT travel, Wolters Reisen, Berge & Meer Touristik GmbH, Atraveo, Boomerang Reisen, Dr Tigges. Gebeco over, TOUROPA and others. In Austria, these are Gulet Touristik, TUI Austria and Terra Travel. Added to this, TUI Poland Poland (with the brands TUI and Scan Holiday ) and TUI Suisse in Switzerland with the brands TUI, TUI Travel Flex, 1 -2-Fly and Spinout Sport Tours. The latter brand is 2013/14, however, abandoned without replacement at the end of the winter program. The main activity in the direct sales brand Vögele Reisen was sold retroactive to January 1, 2013 by TUI Suisse Twerenbold trips that travel to the end of October 2013, however, were still carried out by TUI Suisse.

In Northern Europe, TUI in Denmark with Sportsrejser, Star Tour and TEMA is represented in Finland with Finnmatkat and TEMA as well as in the UK with Specialists Holidays Group, Thomson and TUI UK. In Norway, it operates sports Reiser, Star Tour and TEMA, and in Sweden Fritidsresor, Sportresor, TEMA and TUI Nordic.

In Western Europe, TUI operates in France, Nouvelles Frontières, TUI France, JV and Touraventure, Belgium Jetair and TUI Belgium, and the Netherlands Arke, De Boer & Wendel, Discovery, Group & Incentive Travel, Holland International, Isropa stimuli, KRAS stimuli, Panta Reizen, TUI Nederland and Zeetours Cruises.

There are also TUI and TUI China Mostravel Russia.

Activities in Russia and Ukraine

TUI Travel plc. and the S- Group Travel Holding the Russian shareholder Mordaschow declared on 16 April 2009 to establish a joint venture company in Russia with an investment of 30 million euros for the construction of tourism activities in Russia and Ukraine. There are tour operators VKO Group and Mostravel be adopted in Russia and Voyage Kiev in the Ukraine, which have over 160 offices and more than half a million customers. Hence the umbrella brand in Russia and Ukraine was launched in March 2010.

Hotel brands

The hotel brands TUI include Atlantica Hotels, aqi hotels, Village Hotel, Grand Resort, Grecotel, Grupotel, Iberotel, Magic Life, RIU Hotels, Robinson Club, Sol y Mar, PURAVIDA resorts and since 2008/2009, the sensimar Hotels & Resorts. For Summer 2012, two brand hotels Viverde will be to book that serves the interests of nature lovers. The company will expand the range of hotels that can be booked exclusively through TUI, among other things, with eight houses of the new brand Suneo clubs.

Travel agencies

TUI Central Europe

  • Germany: TUI Leisure Travel (TUI Travel Center, FIRST travel agency, Hapag -Lloyd travel agency, discount travel, World of TUI Travel Experience Center Berlin), TUI Travel Star ( participation 50 percent and 50 percent RT -Reisen GmbH ), tourism Express
  • Austria: TUI Travel Center
  • Poland: TUI CentrumPodrózy, scan Holiday
  • Switzerland: brands of TUI Suisse Retail Ltd: TUI travel agency, Agence de Voyages TUI, TUI Premium Travel, Travel Kipfer, Haefliger travel, Stocker travel, Swiss travel agency
  • Russia: TUI Турагентство
  • Ukraine: TUI Турагенція

TUI Northern Europe

  • Denmark: Star Tour
  • Finland: Oy Finnmatkat
  • United Kingdom: Thomson Holidays, Austravel, Caller - Pegasus Travel Service
  • Norway: Star Tour Stjernereiser
  • Sweden: Sverige Fritidsresor

TUI Western Europe

  • France: Nouvelles Frontières, Havas Voyages
  • Belgium: Nouvelles Frontières Belgique, Sunjets, TUI Travel Center
  • Netherlands: World of TUI Reisbureau, KRAS Reisbureau

Incoming agencies

  • Egypt: Travco Group
  • Bulgaria: TUI Bulgaria
  • China: TUI China Travel
  • Dubai: Travco Dubai
  • Dominican Republic: hotelbeds
  • France: Nouvelles Frontiers
  • Greece: TUI Hellas Travel
  • Israel: Holiday Travel
  • Italy: Serenade Tours ( art cities ), Acampora ( Southern Italy)
  • Kenya: Pollman 's Tours and Safaris
  • Croatia: Gulliver Travel
  • Lebanon: Aeolos Liban
  • Malta: Malta Aelos
  • Morocco: Holidays Services
  • Mauritius: Summer Times
  • Mexico: hotelbeds
  • Namibia: Namibia ATC
  • Austria: TUI Incoming Austria
  • Oman: Travco Oman
  • Poland: Jointex
  • Portugal: TUI Portugal
  • Romania: Danubius Travel
  • Russia: Svoy TT
  • Spain: TUI España Turismo
  • Sri Lanka: Aitken Spence Travels
  • South Africa: ATC African Travel
  • Tanzania: Ranger Safaris
  • Tunisia: Tunisie Voyages
  • Turkey: Tantur Turizm (TUI Türkiye)
  • Cyprus: Aeolos Travel

Cruise ships

  • Germany: Hapag -Lloyd Cruises, TUI Cruises ( since 2008)
  • United Kingdom: Thomson Cruise

Riverboats

The fleet for Flußreisen in 2014 following four ships:

  • TUI Allegra (built in 2011)
  • TUI Melodia (built in 2011)
  • TUI Sonata ( built 2010)
  • TUI Maxima ( 2003 model)

TUI Germany retires after the 2014 season completely out of business with river cruises on the Danube, Rhine and Main back. Contract negotiations with Premicon about new deals were canceled in the fall of 2013 contracts have failed.

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