Air Berlin, TUI in partnership talks
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Germany’s Air Berlin and TUI Travel are said to be in advanced negotiations on a deal that could see them investing in one another and jointly working in the German air travel market.
Quoting a statement, Associated Press reported that the boards of Air Berlin and TUI still had to approve any agreement, though they didn’t specify when that would be.
A deal could lead to TUI Travel taking a stake in Air Berlin of not over 20%, while Air Berlin could get a 20% stake in TUI’s airline company, TUIfly, the report said.
The proposed agreement calls for Air Berlin to take over TUIfly’s route network and operate TUI’s aircraft capacity through long-term contracts. TUIfly’s charter business would remain with TUI, the report quoted the statement as saying.
Air Berlin is Germany’s second largest airline after Lufthansa.
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