Category Archives: TUI Group

All 5 TUI airlines to be merged, based in Hanover, as fleets are reduced

TUI fly Germany has made this announcement:

  • Supervisory Board supports restructuring plans and mandates management to negotiate with works councils and trade unions
  • Existing employment guarantee until the end of 2021 for all German TUI companies also applies to the restructuring of TUI fly
  • Commitment to company headquarters and the airline base Hanover: Hanover and Düsseldorf remain the largest bases of the TUI fly fleet

TUI fly Germany Managing Director Oliver Lackmann explains after the meeting of the Supervisory Board of TUI fly GmbH in Hanover:

“At the June 18 meeting, the management again presented the plans for the restructuring of the German holiday airline to the TUI fly Supervisory Board and explained in detail the need for changes. There is no doubt that these are major changes and cutbacks for our employees and for the company. Nobody takes the decision lightly, neither I myself as managing director and flight captain nor the supervisory board. But the TUI fly fleet is too large for the customer base of our German TUI tour operator. We must reduce this fleet and work more closely together within the five airlines of the Group. Otherwise, as a premium provider of holiday flights, we will further increase our competitive disadvantage over other airlines.

Even before the Coronavirus pandemic, the German airline market was characterised by considerable overcapacity and a fierce price competition. The coronavirus pandemic has led to severe disruptions in the airline sector, especially for holiday flyers. The regular business of TUI fly has come to a complete standstill since mid-March. According to forecasts, air traffic in the coming year will still be significantly lower than the volume in 2019. Even in the peak season, the TUI fly fleet was not able to achieve a cost-covering occupancy rate before Coronavirus. In the past, between 14 and seven aircraft with crews were permanently leased to Air Berlin and later to Eurowings. These were thus aircraft and seats which we as a tour operator were unable to fill with our own customers. The situation has now become even more difficult due to the pandemic. In the long-term interests of all employees of our airline – and in the interests of TUI as a whole – we must make TUI fly fit for the future.

We want to come to an agreement with the representatives of the workforce as quickly as possible. The Supervisory Board of TUI fly has mandated the management to enter into negotiations with the works councils and the trade unions. The negotiations are also based on the employment protection scheme in place until the end of 2021, agreed with the Group Employee Council for all TUI Group companies in Germany. It excludes dismissals for operational reasons with effect before the end of 2021. We see this agreement, which has been in place since 2019, as an opportunity to make the restructuring as socially responsible as possible. The Supervisory Board also underlined this goal today. We are very aware that the reduction of each individual position is about colleagues who are highly loyal to their airline. Our aim is to secure as many jobs as possible in TUI fly in the long term. However, this will only succeed if we adjust the size of the airline to a healthy and future-proof level. We will take into account the interests of the employees, the Hanover airport location and TUI as a whole in our decisions. We are now at the beginning, not at the end, of the negotiations on the design of the restructuring. The core of the plans is the announced adjustment of the fleet to about half of the current 39 aircraft.

In addition, central functions are to be more closely integrated across all five Group airlines. In a first step, TUI’s European airlines will be merged under one company. This central flight division for TUI Group airlines will be based in Hanover.

TUI fly plans to cut jobs in technical, administrative and crew functions since fewer aircraft will be used. In future, TUI fly intends to concentrate on the departure airports of Hanover and Düsseldorf as the largest fleet locations, as well as Frankfurt, Munich and Stuttgart”.

Currently there are five airlines in the TUI Group operating around 150 medium- and long-haul aircraft, including the largest fleet of the Boeing 787 Dreamliners. The airlines are TUI Airways, TUI fly, TUI fly Belgium, TUI fly Netherlands and TUI fly Nordic, serving more than 180 destinations around the world.

TUI fly Germany aircraft photo gallery:

TUI and Boeing reach a comprehensive agreement to resolve 737 MAX grounding impacts

TUI Group has made this announcement:

  • Large part of the financial impact incurred will be compensated over the next two years
  • New agreement on the delivery schedule allows more flexible fleet planning in times of the pandemic
  • New deliveries are postponed by an average of two years
  • Reduced investments in aircraft and reduced financing requirements for TUI for the coming years
  • Agreement strengthens liquidity of TUI Group

TUI and Boeing have agreed on a comprehensive package of measures to offset the consequences of the grounding of the 737 MAX. While the details of the agreement are confidential, it provides compensation which covers a significant portion of the financial impact, as well as credits for future aircraft orders. The compensation will be realised over the next two years. In addition, both parties have agreed to a revised delivery schedule for the 61 737 MAX aircraft on order, meaning that TUI will get fewer 737 MAX deliveries from Boeing than previously planned in the next several years. The associated payment schedules have been adapted accordingly. As a result of this less than half of the originally planned 737 MAX aircraft will be delivered to TUI in the next two years. On average, compared with the original scheduling, the 737 MAX deliveries will be delayed by approximately two years. This will significantly reduce TUI’s capital and financing requirements for aircraft in the coming years and supports TUI’s plan to reduce the size of fleet of its five European airlines in the wake of the Corona crisis. It was agreed not to disclose the financial details of the agreement.

Fritz Joussen, CEO of TUI Group, commented on the agreement with Boeing: “We have reached a fair agreement that strengthens our long-standing relationship with Boeing. The agreement provides TUI with compensation for a large part of costs that were incurred due to the grounding of the 737 MAX. The new delivery schedule gives us considerable flexibility because we will have fewer new aircraft delivered in the next years. This enables TUI to rapidly adapt its fleet growth to the currently challenging market environment. And it supports our plan to downsize the aircraft fleet and reduce the capital requirements for aircraft investments in the Group.”

In March 2019, a worldwide flight ban was imposed on the 737 MAX, which also had an impact on the operations and fleet renewal plans of TUI Airlines. At the time of decommissioning, TUI´s airlines had 15 737 MAX aircraft in their fleets, with eight more scheduled for delivery in 2019. With its five airlines in Germany, the UK, Belgium, the Netherlands and Sweden TUI is one of Boeing’s largest European customers for the 737 family.

TUI Group is ready to resume travel activities but will cut 8,000 jobs

TUI Group has made this announcement:

  • CEO Fritz Joussen: “People want to travel. Europe must now gradually open up. Summer holidays are possible responsibly and with clear rules. We will reinvent the holiday in 2020.”
  • TUI hotels in Germany and Europe ready to go. Increased hygiene and safety measures for all tourism activities of the Group.
  • Strong start to the 2020 financial year before the pandemic: turnover grows by +6 per cent to 6.0 billion euros in the first five months. Operating underlying EBIT after five months +21 per cent to -240 million euros1 2
  • First bookings for summer 2021: +114 per cent
  • Occupancy rate TUI Cruises 2021 at normal level 
  • Targeting 30 per cent overhead cost reduction across the Group
  • Available liquidity (as of 10 May 2020): 2.1 billion euros

TUI is ready for an early resumption of travel activities in Germany and Europe. Barely two months after almost all business units had to be shut down due to the worldwide travel bans, the tourism group is prepared for a resumption of its operational activities. TUI’s first hotels on Sylt and in Mecklenburg-Western Pomerania will open their doors for guests in the coming days. TUI’s hotels and clubs in European destinations are also ready to welcome holidaymakers. A 10-point catalogue for increased hygiene and protection measures is currently being implemented in the Group’s hotels worldwide, offering guests the greatest possible safety. Fritz Joussen, CEO TUI Group: “The safety and well-being of our guests and employees around the world continue to be our top priority. Summer holidays in Europe can now gradually be made possible again – responsibly and with clear rules. Organised travel offers great advantages especially now: With the trusted TUI brand, we offer safety, local support and, in special situations, guarantee the return journey home. Together with the destinations and our partners we have developed extensive measures to protect our guests. The demand for holidays is still very high. People want to travel. Our integrated business model allows us to start travel activities as soon as this is possible again. The season starts later, but could last longer. For 2020 we will also reinvent the holiday: New destinations, changed travel seasons, new local offerings, more digitalisation.”

Strong development before the pandemic
In mid-March, before the end of the first six months of the 2020 financial year, the Group had to suspend operational travel activities due to COVID-19 and the resulting worldwide travel bans. Up to this point, the world’s leading tourism group was on track: in the first five months of the fiscal year, turnover increased by six percent to 6.0 billion euros. Excluding one-off effects operating underlying EBIT amounted to -240 million euros – an improvement of 21 percent over the same period last year. Joussen: “We were very successful economically before the crisis and will be again after the end of the crisis. We have a functioning and successful business model and over 21 million loyal customers who trust our strong brand.”

Bridging loan ensures liquidity
Immediately after TUI was forced to largely discontinue its business due to the worldwide travel restrictions, the Group decided to apply for a KfW bridging loan of 1.8 billion euros. This is intended to cushion the unprecedented effects of the pandemic until normal business operations can be resumed. The German government approved the loan on March 27. On April 8, the banks providing TUI’s existing credit line of 1.75 billion euros (“Revolving Credit Facility”) also gave their approval for the contractual integration of the new credit. The swift action of TUI’s Executive Board thus enabled additional liquidity to be secured at short notice. As at May 10, 2020, the Group had financial resources and available credit facilities of around 2.1 billion euros.

Global realignment accelerates transformation
The loans received are to be repaid within a short period of time and the high level of debt is to be rapidly reduced again. To ensure that the strong operational performance can continue in a globally weakened market following the pandemic, the Group is now implementing a global program with extensive cost-cutting measures. This will further accelerate the transformation to a digital platform company that has already been initiated. Joussen: “TUI should emerge from the crisis stronger. But it will be a different TUI and it will find a different market environment than before the pandemic. This will require cuts: in investments, in costs, in our size and our presence around the world. We must be leaner than before, more efficient, faster and more digital. We will implement our “asset right” strategy, which we launched in 2019, even more purposefully and quickly. We will become more digital at all levels – in particular, we will accelerate the expansion of digital platforms in new markets and for our activities in the destinations. We are targeting to permanently reduce our overhead cost base by 30 percent across the entire Group. This will have an impact on potentially 8,000 roles globally that will either not be recruited or reduced. In order to return to the successful development of the past years after the crisis, we must now implement the realignment quickly.”

Outlook: Full-year guidance not yet possible 
On 15 March, the Executive Board withdrew the guidance given for 2020 as a whole. Due to the ongoing pandemic and the continuing worldwide travel restrictions, the Executive Board refrains from providing a new guidance for fiscal year 2020 also under the current circumstances. Currently, 35 percent of the 2020 summer program is still booked.

1At constant currency

2 Excluding impact from opex in digital platforms, impact of grounding of 737 MAX and one-off hedging gain in previous year

TUI temporarily suspends vast majority of all travel operations due to coronavirus

TUI Group has made this announcement:

In this rapidly changing environment the safety and welfare of our guests and employees worldwide remains of paramount importance and thus TUI Group has decided, in line with government guidelines, to suspend the vast majority of all travel operations until further notice, including package travel, cruises and hotel operations. This temporary suspension is aimed at contributing to global governmental efforts to mitigate the effects of the spread of the COVID-19.

In light of this situation, the Executive Board has decided today to withdraw the Financial Year 2020 guidance as communicated on February 11, 2020. Furthermore the Executive Board also refrains from issuing a new guidance for the Financial Year 2020 under the current circumstances.

Due to the unprecedented escalation of COVID-19, the Board of TUI are continuously evaluating the situation and are considering a variety of actions to support our customers, colleagues and stakeholders.

The Group has cash and available facilities of approx. €1.4bn and year-to-date performance had been in-line with expectations prior to COVID-19. We are taking substantial cost measures to mitigate the earnings effect.

Moreover, we have decided to apply for state aid guarantees to support the business until normal operations are resumed.

For more information.

TUI Group sells a majority stake of Corsair to INTRO Aviation

Corsair International Airbus A330-243 F-HCAT (msn 285) ORY (Jacques Guillem). Image: 946015.

TUI Group has made this announcement:

  • German aviation investor acquires majority stake in French scheduled carrier
  • Corsair’s Employee Trust Fund and TUI to retain minority stakes
  • Further milestone in the implementation of TUI’s strategy in all business segments

TUI is the world’s leading tourism group. Since 2014, its portfolio of subsidiaries and international shareholdings has been clearly aligned to help implement the Group’s strategy. The Group has now taken the next step towards becoming a “pure play tourism” company with the sale of the French scheduled carrier Corsair. TUI Group has sold a majority stake in its French airline Corsair to German investor INTRO Aviation. INTRO will acquire a 53 percent stake in Corsair as a first step. Under the agreement, TUI Group will initially retain a minority stake of 27 percent, while Corsair’s Employee Benefit Trust will retain a 20 per cent stake. The financial details of the agreement have not been disclosed.

The French long-haul scheduled carrier is unable to deliver any synergy effects for TUI Group, TUI tour operators and cruise companies, and the Group’s five European charter airlines. The sale will reduce TUI’s fleet by seven long-haul aircraft: three 747-400s as well as two A330-200s and A330-300s each.

“We are consistently transforming TUI to focus on tourism, its core business. Here, we are investing in hotels and cruise ships, and increasingly in holiday experiences in the destinations. These are segments in which we are growing, and where we are continuing to expand our global activities. We are exiting non-core business areas that do not leverage any synergies for the Group. The sale is the right move for TUI and will also benefit Corsair and its staff,” said TUI CEO Fritz Joussen.

Since the merger and integration of its former subsidiary TUI Travel at the end of 2014, TUI AG has successfully transformed from a trading business to the world’s leading integrated tourism group focusing on hotels, cruise ships and destination activities. This strategy resulted in the sale of numerous non-core subsidiaries and it has increased the Group’s leeway for comprehensive investments in hotels, ships and digital platforms in order to strengthen its future business.

The sale now initiated will create new and sustained prospects for the French airline Corsair and its employees. The investor is specialised on aviation and investments in aviation companies. Corsair’s business will be part of the investor’s core business.

Copyright Photo: Corsair International Airbus A330-243 F-HCAT (msn 285) ORY (Jacques Guillem). Image: 946015.

Corsair aircraft slide show:

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TUI welcomes its first ever robotic humanoid employee

  • Pepper will be part of TUI Nordic´s Data and Machine Learning Team​
  • Robot Assistant has job description and personal goals – just as every TUI employee

The humanoid robot commonly known as “Pepper“ is the latest employee to be hired by TUI Nordic. Pepper, named Pepper 2E, will work as a Robot Assistant and be a part of TUI’s new Data Analytics and Machine Learning team. TUI is the first travel company in the world to incorporate robotics in this way.

“Automation, AI and Robotics are important elements of TUI’s future. We already have some of the best specialists in this field and I am excited to see how Pepper 2E will contribute to our team. And most importantly, I hope he sparks curiosity and engagement with all of our TUI Nordic colleagues”, says Alexander Huber, Managing Director of TUI Nordic.

Pepper 2E started on August 14, 2018 and will primarily be based in TUI’s Stockholm office. The humanoid robot has a detailed job description as well as set “personal” goals he will be evaluated on, just as any regular TUI employee. The main responsibility of the Robot Assistant is to inspire innovation, curiosity and technological pioneering. Furthermore, the Robot Assistant will help visitors as well as colleagues and external customers with everyday questions and problems.

Elke Eller, HR Director of TUI Group and Member of the Board says: “As TUI Group, we are shaping the future of travel in many areas. Employees like Pepper 2E can support our teams. At the same time they give us an impression of what the work of the future might look like. The “hiring” of Pepper 2E stands for curiosity about the future and openness for new technologies. These are important prerequisites for the success of the digital transformation of TUI. Välkommen, Pepper!”

As a true TUI employee, Pepper 2E will go through the usual steps of onboarding. He has a manager to report to and is member of a team that will incorporate him in their day-to-day tasks. He will spend the first few months hovering around the office getting to know the company and his new human colleagues.

ABOUT PEPPER

  • Pepper understands and speaks in numerous languages and can understand human emotions.
  • Pepper’s touch screen increases his capacity to interact and enables him to enhance communication by providing visual information.
  • With entirely programmable platforms, Pepper offers manifold usage possibilities to enrich the experience.

In other news, TUI fly has made this announcement:

TUI fly’s sustainability strategy remains on its successful path. This is demonstrated by this year’s progress report on TUI fly’s environmental statement, providing information on the progress delivered by the environmental programme in the framework of EMAS (Eco-Management and Audit Scheme) certification.

Average jet fuel consumption was reduced to 2.52 litres per one hundred passenger kilometres. Moreover, the independent climate protection organisation atmosfair again rated TUI fly as Germany’s most climate-efficient airline.

Its overall global rating is also remarkable: TUI fly has again been named one of the world’s top airlines, ranking third on the global list. The pole position is held by its British sister airline TUI Airways.

“Our flights are already 27 percent more climate-efficient than those operated by the six largest European airline. We are committed to continuing these efforts in order to further optimise the climate efficiency of our flights. We thus render a significant contribution towards delivering TUI Group’s “Better Holidays, Better World” sustainability strategy, aimed at reducing the ecological footprint and promoting people and regions in the destinations”, said Roland Keppler, CEO TUI fly.

Numerous measures have also been launched on the ground to ensure environmentally-friendly operations. In this context, TUI fly has now launched charging stations for electric vehicles at the employees’ car park at the head office – in cooperation with the energy utility Enercity. “In order to ease the start into e-mobility for our employees, they can charge their electric cars free of charge at these stations. We will also convert our vehicle fleet.

To that end, we are currently exploring the launch of electric vehicles for aircraft maintenance at the apron,” said Roland Keppler. TUI fly’s environmental programme includes measures for 18 destinations. It ensures the continuous transformation to more environmentally friendly operations covering all business areas.

The new Boeing 737 MAX aircraft (above) launching in 2019 will contribute towards that goal. TUI Group already operates five aircraft of the latest generation of 737s. At 16 percent, they have even exceeded expectations regarding fuel and emissions savings.

TUI Group takes delivery of its first Boeing 737-8 MAX 8

TUI's first Boeing 737-8 MAX 8, delivered on January 29, 2018

TUI Group, the world’s largest tourism business, is celebrating the delivery of the operator’s first Boeing 737-8 MAX 8 (OO-MAX). TUI Airlines (Belgium) is the TUI Group operator of the new type.

The 737 MAX delivers the highest efficiency, reliability and passenger comfort in the single-aisle market by incorporating the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, the Boeing Sky Interior, large flight deck displays, and other improvements. The efficiency gains have helped make the MAX the fastest selling airplane in Boeing history with more than 4,300 orders to date from 92 customers worldwide.

TUI Group has 51 additional orders of the 737 MAX 8 and four 787 Dreamliners. The Group also has 18 unfilled orders for the 737 MAX 10 and was the first European operator to select the latest and largest member of the 737 MAX family of airplanes.

The pictured OO-MAX was officially handed over on January 29, 2018. OO-MAX went into revenue service on February 5, 2018 between Brussels and Tenerife Sur (TFS).

Copyright Photo: TUI Airlines (Belgium) Boeing 737-8 MAX 8 OO-MAX (msn 44588) BFI (Joe G. Walker). Image: 940811.

TUI Airlines (Belgium) aircraft slide show:

TUI Group converts 18 orders to the Boeing 737 MAX 10

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Boeing and TUI Group, the world’s number one tourism business, on June 19, 2017 announced its selection of 18 737 MAX 10s at the 2017 Paris Air Show. TUI Group already had 70 unfilled orders for the 737 MAX and will convert 18 of these existing orders to the 737 MAX 10. The leisure group is the first European operator to select the latest member of the 737 MAX family of airplanes.

TUI Group aims to operate Europe’s most carbon efficient airlines and has committed to reduce the carbon intensity of its operations by a further 10 percent by 2020.

Boeing continued;

The 737 MAX 10 is the largest member of the 737 airplane family, the world’s best-selling jetliner family.

The MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat-mile cost ever in a commercial aircraft. The 737 MAX 10 has more range than today’s Next-Generation 737s and substantial fuel efficiency and economic advantages over heavier competing models, including five percent lower trip cost and five percent lower seat-mile cost.

Like Boeing’s other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

Along with the 737 MAX, TUI Group has unfilled orders for four 787-9 Dreamliners.  The Group also has 50 options for the 737 MAX and has converted 10 of these to the 737 MAX 10.  The Group will take delivery of its first 737 MAX aircraft in January 2018.

TUI Group, domiciled in Hanover and Berlin, is the largest integrated tourism group worldwide.  The Group operates six airlines across Europe and operates approximately 150 medium and long-haul aircraft, including more than 100 Next-Generation 737s and 15 787s.  TUI serves more than 20 million customers in 180 destinations around the world, employing more than 67,000 people.

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TUI and Niki move one step closer to a joint venture based in Vienna

TUI Airlines (Germany) Boeing 737-86J SSWL D-ABKI (msn 37748) PMI (Ton Jochems). Image: 933944.

TUI AG‘s Supervisory Board has given the green light on November 23, 2016 for further steps with the goal to create a new European airline joint venture with Etihad Aviation Group. TUI Group’s supervisory body approved the plan to contribute its German leisure airline subsidiary TUI fly GmbH (TUIfly-TUI Airlines Germany) to a joint venture with Etihad. Etihad is in negotiations with Airberlin to acquire its touristic operations primarily in Southern Europe and North Africa, and including Airberlin’s participation in Niki, with the objective to contribute it to the joint venture.

The new airline joint venture, headquartered in Vienna, is planned to serve a broad route network with its two airlines, TUI fly and Niki, a total fleet of around 60 aircraft and a seat capacity of 15 million seats per year, operating from key departure airports in Germany, Austria and Switzerland.

TUI AG is to hold a stake of 24.8% in the joint venture, with Etihad holding 25% of the interests. The remaining 50.2% would be held by the existing private foundation Niki Privatstiftung.

The commitments made to the TUI fly employees remain in place and are currently being further negotiated and specified. This includes the commitments to the Hanover location.

The contractual negotiations between all involved stakeholders are expected to be finalized in the next few weeks. Details regarding the future joint venture will be jointly presented by Etihad and TUI after successful completion of the negotiations.

The planned joint venture is subject to approval by the relevant antitrust and aviation authorities.

In the summer of 2007, Hapag-Lloyd Express (HLX) and Hapagfly merged to form TUIfly. The airline is a wholly-owned enterprise of the TUI Group, the world’s leading tourism troup with headquarters in Hanover, Germany. TUIfly flies to the classic holiday regions all around the Mediterranean, the Canary and Cape Verde Islands, Madeira and Egypt for TUI and other tour operators. By the summer of 2014, TUIfly used 40 Boeing 737 aircraft to fly to these destinations. TUIfly headquarters are at the Hanover Airport.

Top Copyright Photo: TUI Airlines (Germany) Boeing 737-86J SSWL D-ABKI (msn 37748) PMI (Ton Jochems). Image: 933944.

TUI:

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Niki:

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Bottom Copyright Photo: Niki Luftfahrt (flyNiki.com) Airbus A320-214 OE-LEF (msn 4368) ZRH (Rolf Wallner). Image: 927323.

Niki Luftfahrt (flyNiki.com) Airbus A320-214 OE-LEF (msn 4368) ZRH (Rolf Wallner). Image: 927323.

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Etihad Aviation Group and TUI AG confirm they are in discussions to create a strong European leisure airline group, focused on point-to-point flying to connect key tourist markets

Etihad and TUI are in discussions to create a new leisure airline group

On October 5, 2016 Etihad and TUI issued this joint statement:

It is proposed to contribute the touristic operations of the Airberlin Group and the German TUIfly company, including the aircraft currently operated by TUIfly for Airberlin under a wet-lease agreement (see above), into a new airline group established by TUI AG and Etihad Aviation Group.

This new airline group would serve a broad network of destinations from Germany, Austria and Switzerland. The leisure airline group will be supported by the expertise of Etihad Aviation Group, the fastest-growing aviation group in the world, and utilize TUI’s state-of-the-art distribution capacity.

TUI AG, Etihad Aviation Group and Air Berlin PLC intend to finalize an in-principle agreement in due course. Any agreement entered into will be subject to all necessary corporate and regulatory approvals. TUIfly is part of TUI Group, the world’s number one tourism business, with around 75,000 employees serving 30 million customers a year, across the globe. TUI Group has a portfolio of more than 300 hotels, 14 cruise liners, six European airlines with around 140 aircraft and a wide-reaching distribution network, covering more than 1,800 travel agencies and online portals.

Etihad Aviation Group is a fast-growing diversified aviation and travel group, with more than 26,000 employees. It comprises four business divisions – Etihad Airways, the national airline of the United Arab Emirates, Etihad Airways Engineering, the Hala Group, its destination management company, and the Airline Equity Partners.

Etihad Aviation Group holds minority stakes in Air Berlin PLC, Air Serbia, Air Seychelles, Alitalia, Etihad Regional, Jet Airways and Virgin Australia.

Airberlin is the second largest airline in Germany and carried more than 30.2 million passengers in 2015. Airberlin offers a global route network through its strategic partnership with Etihad Airways, which has a 29.21 per cent shareholding in Airberlin, and through membership of the oneworld® airline alliance.

Copyright Photo: TUI Airlines (Germany) Boeing 737-86J SSWL D-ABKI (msn 37748) PMI (Ton Jochems). Image: 933944.

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