TUI responds as largest shareholder hit with sanctions
Tour operator TUI has confirmed the European Union imposed economic sanctions against its largest shareholder Alexey Mordashov.
The aim of the sanctions is to prevent Mordashov from disposing of his shares in TUI AG, the company said.
Mordashov resigned from TUI’s supervisory board with immediate effect.
Mordashov has been a shareholder in TUI AG for around 15 years and currently holds around one third (34%) of the share capital.
Two thirds of the shareholders are private and institutional investors and come from Germany, the EU, the UK and the US.
“The EU sanctions relate to Mr Mordashov as a person, not to TUI AG, in which he is a shareholder. In this respect, these sanctions against the shareholder have no impact on the company in which he holds shares,” TUI said.
The operative business of TUI AG is managed by the Executive Board, as is the case with any German public limited company.”
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Qatar Airways offers reduced timetable to over 60 destinations
Hands In, UATP join forces for airline multi-card payments
AirlineRatings reveals world's safest airline rankings for 2026
Vietnam warns airlines of possible flight reductions amid jet fuel shortages
Fliggy opens AI-powered travel bookings and developer tools