| Type | Aktiengesellschaft |
|---|---|
| Traded as | FWB: TUI |
| Industry | Travel, tourism |
| Founded | 2002 (rename of Preussag AG to TUI AG) |
| Headquarters | Hanover, Germany |
| Key people | Michael Frenzel (CEO and chairman of the management board), Dietmar Kuhnt (Chairman of the supervisory board) |
| Products | Charter and scheduled passenger airlines, package holidays, cruise lines, hotels and resorts |
| Services | Travel agencies |
| Revenue | €16.35 billion (2009/2010)[1] |
| Operating income | €215.5 million (2009/2010)[1] |
| Profit | €113.6 million (2009/2010)[1] |
| Employees | 71,400 (September 2010)[1] |
| Website | www.tui-group.com |
TUI AG (German: Touristik Union International) is a German multinational travel and tourism company headquartered in Hanover, Lower Saxony, Germany.[2] Until 2001 it was an industrial and transportation company named Preussag AG, which in the mid-1990s decided to reinvent itself as a tourism, shipping, and logistics company. It sold off many of its industrial concerns and purchased several major travel and transportation firms.
Today it is one of the world's largest tourist firms with interests across Europe. It owns travel agencies, hotels, airlines, cruise ships and retail stores. Major subsidiaries include TUI AG Airlines, the largest holiday fleet in Europe as well as UK-based tour operators Thomson and First Choice. Its common brand TUIfly encompasses 7 airlines.
TUI AG was also one of the world's largest shipping companies, having its logistics activities bundled within Hapag-Lloyd AG and concentrated on the shipping sector. Hapag-Lloyd is no longer an operating unit of the business however, a majority stake having been sold to the Albert Ballin consortium of investors in March 2009.[3] Finally, TUI AG has 38.4 percent of the shares, but will execute the option to sell the Hapag stake to Ballin on January 2012, an exit from shipping business and to optimize its tourism business with expansion in Russia, China and India.[4]
Some data of TUI:
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On 3 September 2007 the tourism division of TUI AG merged with First Choice Holidays PLC to create TUI Travel PLC, an international leisure travel group listed on the London Stock Exchange. TUI AG owns 43% of the new company, operating in 180 countries and serving 30m customers. It is headquartered in Crawley, West Sussex, United Kingdom. It is a constituent of the FTSE 100 Index, with around 155 aircraft and 3500 retail outlets in Europe and employs 50,000 people worldwide. The company mainly serves the leisure travel customer and is organised and managed through four business sectors: Mainstream, Specialist and Emerging Markets, Activity and Online Destination Services. This has now moved full control of TUI's tourism division directly to TUI Travel PLC.
The TUI AG has been criticised by human rights groups for helping to fund the Burmese regime. The company was added to the Burma Campaign UK's Dirty List in 2008 for indirectly funding the Burmese regime by selling tours/holidays to the country.
TUI sponsors Fußball-Bundesliga side Hannover 96. The airline branch TUIfly's main hub is at Hannover-Langenhagen Airport and it has sponsored the football team since the 2002-2003 season. On 31 March 2011, TUI announced Hannover 96 would be playing "with a smile on their chest" for another 3 years, as it extended the sponsorship contract. When the current sponsor contract runs out, it will make TUI the longest running association with any of the 18 Bundesliga teams, with 12 years as the sponsor. As part of the sponsorship TUI will be the shirt sponsor, as well as having advertisements on the perimeter fencing of the AWD-Arena, Hannover's home stadium. There is also advertising in the stadium, on the billboards by the pitch and banners around the stadium, and TUI will also remain the sponsor of the Hannover 96 Soccer School.[5]
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