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TUI in Carnival joint venture – 65 new aircraft ordered
TUI is to create a joint venture with Carnival Corporation to enter the high volume pemium cruise segment.
The German travel giant, which has announced 2,600 UK job cuts today, is also creating a new Europe-wide internet portal for flights.
A new brand – TUIfly.com – will cover the company’s German flight business though the merger of Hapagfly and Hapag-Lloyd Express to give a fleet of 56 aircraft next year.
It has ordered an additional 65 Boeings worth two billion euros for delivery from 2010 to replace leased aircraft currently oeprated in all source markets.
TUI is to acquire up to 25% in a joint venture with Carnival to tap into the German cruise market. The group is currently represented in the luxury segment by Hapag-Lloyd Kreuzfahrten and operates the budget Thomson Cruises brand in the UK.
“We are now planning to close a gap in the high-volume premium sector with TUI Cruises,” said CEO Michael Frenzel.
Carnival’s German cruise arm AIDA will be brought into the joint company and a separate TUI Cruises brand will be established with the first 3,000-passenger ship to be delivered in 2010.
Meanwhile, TUI signalled an ambition to grow its online business to account for more than a quarter of total turnover – up from 18% – within the next three years.
At the same time, Frenzel stressed that travel agencies will remain a key distribution channel in Germany.
“We are pursuing a clear objective – on an average we are planning to grow 50% inthe internet segment in the respective source markets wthin the next three years,” said Frenzel.
Report by Phil Davies
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