The German travel group TUI is looking for a partner for the airline division of the group. According to the Group’s CEO Fritz Joussen in an interview to German financial newspaper Börsen-Zeitung, access to airline capacities is important for TUI, but this does not mean that the airlines and aircraft have to appear in the balance sheet.
However, Joussen rules out an emergency sale of the fleet or a changeover to pure leasing. The ship division could serve as a model for the reorganisation of the airline division. For some years now, the company has been cooperating with a partner in the form of a joint venture.
In view of the Covid-19 crisis, the Group’s fleet of 150 aircraft is being reduced. Joussen confirmed that only 17 of the current 35 Boeing 737s will be operated in Germany in the future. There will also be cuts in the other airline units: UK, Belgium, Netherlands, Scandinavia, which will be merged into one single airline based in Hanover. The projected relaunch of long-haul flights from Germany with two Boeing 787 Dreamliners is also on hold.
In recent weeks there has been speculation that Condor and TUI fly Ferlany could work together as a joint venture. Fritz Jousssen did not want to comment on such speculations.
Source: Austrian Aviation Net