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Strategic changes of TUI

By bchampetier

  • Entry in the tourism business

    Michael Frenzel and his team (Preussag) decided to exit the smelting and mining industry to enter the tourism business.

  • Preussag acquires TUI Deutschland

    (One of the leaders for package holiday).

  • Preussag buy Hapag-Lloyd AG

    (A large German tour operator).

  • HTU purchases of 24.9% of Thomas Cook

    Hapag Touristik Union was a tourism division of Preussag. Thomas Cook was one of the biggest British tourism and financial services group.

  • HTU acquires a majority stake in Thomas Cook

  • HTU becomes "TUI Group" and enter the European market

  • TUI completes the takeover of British Thomson Travel Group

  • TUI takes a stake in Nouvelles Frontières

    (French leader tour operator), with an agreement for a future entire takeover.

  • TUI acquires Fritidsresor

    (One of the largest tour operators in Scandinavia).

  • All these firms are put under the global umbrella "World of TUI"

  • Preussag creates TUI Air Management

    In order to manage the six group airlines centrally.

  • Preussag AG is renamed TUI AG

  • TUI completes the 100% takeover of Nouvelles Frontières

  • Start of a new cost-cutting programme

    In order to adjust to the slump in tourism (targeting yearly savings of €260m in 2003 and €100m in 2004).

  • TUI sets up TUI China

    For Chinese tourists visiting Germany.

  • TUI opens Touristik Express

    It's first low-cost travel agency in Hamburg, Germany.

  • TUI sets up TUI Mostravel Russia

    And enters the Russian tour operator market through a joint venture with the Russian tour operator Mostravel.

  • TUI launches Touropa.com

    A virtual tour operator in Germany.

  • TUI holds 50% of "Le passage to India"

    (An incoming agency), and enters the Indian market.

  • TUI takes full control of CP ship

    (Leading Canadian container shipping line) and merges its container shipping division with it.