Air Berlin and TUI in talks over cross investment
Air Berlin and TUI are looking to take cross shareholdings in each other’s businesses.
If a deal goes ahead, TUI would take up to 20% of Air Berlin via a subscription to new shares, while the low-cost airline would take the same shareholding in TUI.
According to Air Berlin, it would would also take over TUIfly’s city sector routes and a number of its aircraft, leaving TUI to concentrate on charter operations.
TUI confirmed it has held talks with Air Berlin but said there was no assurance the negotiations would lead to a deal as it would have to be approved by both parties’ Boards and regulatory authorities.
Last year, Air Berlin planned a takeover of Condor, which was at that time majority owned by Thomas Cook Group.
TUI Travel has previously held talks with Lufthansa about merging its TUIfly operations with Germanwings.
Shares in Air Berlin rose 4.07% to €3.44 on Frankfurt’s SDax index.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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