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TUI Travel

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TUI Travel

TUI Travel PLC
Type Public
Traded as LSE:  TT.
Industry Transport
Founded 2007
Headquarters Crawley, England, UK
Key people Friedrich Joussen
(Chairman)
Sir Michael Hodgkinson
(Deputy Chairman)
Peter Long
(Chief Executive)
Products Passenger transport, travel agency, accommodation
Revenue £15,051 million (2013)[1]
Operating income £297 million (2013)[1]
Net income £63 million (2013)[1]
Owners TUI AG (56.4%)[2]
Employees 54,000 (2012)[3]
Subsidiaries Thomson Airways
Thomson Holidays
Website .com.tuitravelplcwww

TUI Travel PLC is a British leisure travel group listed on the London Stock Exchange. It was formed on 3 September 2007 with the merger of First Choice Holidays PLC and the Tourism Division of TUI AG, which owns 56.4%[2] of the company. TUI operates in 180 countries and claims 30 million customers.[4] Its headquarters are in Crawley, West Sussex, England and is a constituent of the FTSE 100 Index. In June 2014 the company announced it had agreed terms with TUI AG for a merger.[5]

History

TUI AG

The company was founded in 1923 in Berlin, Germany as Preußische Bergwerks und Hütten-Aktiengesellschaft operating in the industrial sector.[6] In 1959 it listed on the Frankfurt Stock Exchange and in 1964 was renamed Preussag.[6] In 2000 it acquired Thomson Travel and in 2002 bought Hapag Lloyd, which itself owned the travel firm TUI (formerly Touristik Union International), and renamed itself TUI AG.[7] In June 2014 Tui AG and TUI Travel announced the two companies would be merged.[8]

First Choice

The First Choice logo

The company was founded in 1973 as Owners Abroad operating as a travel agent.[6] It first listed on the London Stock Exchange in 1982.[6] In 1987 it launched Air 2000 and in 1990 acquired Redwing.[6] It changed its name to First Choice in 1994.[9]

In July 2005, First Choice Holidays purchased the Europe Express group of companies consisting of multi-channel distribution companies including: go-today.com for direct to consumer vacation packages, E.E.I. Travel and Brian Moore International Tours (BMIT) with travel agent distribution, Travel Services Europe (TSE), the contracting division for hotels and travel services throughout Europe.[10]

Merger

In March 2007, the merger of the travel division of TUI AG with First Choice was announced.[11] The European Commission approved the merger on 4 June 2007, on the condition that the merged company sell Budget Travel in Ireland.[12] The merged company, TUI Travel PLC, began operations in September 2007.[13]

TUI and First Choice's in-house airlines, Thomsonfly and First Choice Airways, were brought together under the former's Air operator's certificate in May 2008, and the merged airline was rebranded as Thomson Airways in November 2008.[14]

In October 2011 it was announced that under a two-year rebranding programme, the store estate would be rebranded as "Thomson featuring First Choice" to create a single travel agency brand; the First Choice branding and uniform will be phased out, and the First Choice name will be used for all-inclusive package holidays sold by the combined network.[15]

The company confirmed in January 2013 that it had received a proposal from its parent to merge.[16] In May 2013, the chief executive of TUI AG ruled out a merger with TUI Travel.[17] In an about-face in June 2014 the two companies announced they had agreed terms on a merger.[5]

Operations

The Company is organised into three sectors:[18]

  • Mainstream
    • Central Europe
    • Northern Europe
    • Western Europe
  • Accommodation and Destinations
  • Specialist and Activity

Airlines

TUI Travel owns eight European airlines making it the largest tourism group in Europe. The group airlines operate scheduled flights as well as charter flights to more than 150 destinations worldwide departing from more than 60 airports in 9 European countries.

In 2005 the names and liveries of the group airlines were changed to reflect the name of the group and to increase recognition by using a single marketing name. All airlines in the group were rebranded with the name best known in their local market or the name of the principal tour operator, Jet4you and Britannia Airways name's were changed. Jet4you acquired the suffix "-fly" whereas Britannia Airways had a complete name change, to reflect the tour operator that it was flying for therefore Britannia Airways became Thomsonfly. Due to the merger of First Choice and Thomson, Thomsonfly dropped the -fly suffix and subsequently became Thomson Airways. Both airlines had their aircraft repainted in the light blue TUI colours with a red TUI logo on the tail. However, Corsairfly has been renamed Corsair International and has a new livery.

TUI Airlines carries millions of vacation travelers and business passengers every year. In 2005 it had a passenger volume of 25 million and employed more than 8,200 people.

Current

Former airlines

References

  1. ^ a b c "Annual Report 2013". TUI Travel PLC. Retrieved 2 October 2014. 
  2. ^ a b "Shareholder Information". TUI Travel PLC. Retrieved 2 October 2014. 
  3. ^ "TUI Travel: At a glance". TUI Travel PLC. Retrieved 2 October 2014. 
  4. ^ "TUI and First Choice plan to merge amid competition in European travel", The New York Times (19 March 2007)
  5. ^ a b "Tui Travel agrees to merger with German majority stakeholder". International Travel News. 2014-06-27. Retrieved 2014-06-29. 
  6. ^ a b c d e TUI Travel History
  7. ^ TUI AG Chairman Frenzel to Speak at WTM’s Captains of Industry Association of Event Organisers
  8. ^ "Tui Travel agrees to merger with German majority stakeholder - International Travel News". Retrieved 2 October 2014. 
  9. ^ Bray, Roger (2001). Flight to the Sun: The Story of the Holiday Revolution. Cengage Learning. p. 235.  
  10. ^ "Europe Express & First Choice Holidays PLC Partnership". Businesswire. 8 July 2005. Retrieved 24 June 2013. 
  11. ^ "First Choice to tie up with TUI". BBC News. 19 March 2007. Retrieved 24 June 2013. 
  12. ^ "First Choice-TUI merger cleared". BBC News. 4 June 2007. Retrieved 24 June 2013. 
  13. ^ Simon Lambert (28 September 2007). "Tui and First Choice to merge". This is Money. Retrieved 24 June 2013. 
  14. ^ "FSX Thomson Airways Boeing 767-300ER". Flyaway Simulation. Retrieved 24 June 2013. 
  15. ^ Branwell Johnson (1 November 2011). "Thomson and First Choice to merge on high street". Marketing Week. Retrieved 24 June 2013. 
  16. ^ Nathalie Thomas (16 January 2013). "TUI Travel in merger talks with German parent company". The Telegraph. Retrieved 24 June 2013. 
  17. ^ "TUI AG CEO says no plans for merger with TUI Travel". Reuters. 15 May 2013. Retrieved 10 October 2013. 
  18. ^ "Our business - TUI Travel PLC". TUI Travel PLC. Retrieved 2 October 2014. 

External links

  • Corporate website
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