TUI AG has confirmed its move into India by taking a half-share in a New Dehli-based travel company.
Europe’s biggest travel group has acquired 50% of inbound firm Le Passage to India for an undisclosed sum.
TUI aims to create a tour operation to cater for European holidaymakers to India.
As reported, TUI revealed plans for the Indian venture while announcing its annual financial results last month.
Confirming the deal, TUI chairman Michael Frenzel said: “India is a growth market with a great deal of potential. We want to play a leading role here.”
Report by Phil Davies
