TUI's TUIfly says it 'will not tolerate' Condor, Air Berlin, LTU monopoly
Tags :
Continental Europe,
Air Berlin
FRANKFURT (AFX) - TUI AG's TUIfly unit said it will not tolerate a possible monopoly following a code-sharing agreement between Condor, Air Berlin and LTU.
TUIfly spokesman Herbert Euler said "the code-sharing agreement between TUIfly and Air Berlin was under review anyway" and added that such an agreement between Condor, Air Berlin and LTU would need approval by the cartel office.
Air Berlin Plc said today it bought 100 pct of LTU from Intro GmbH for 140 mln eur -- including 190-200 mln eur debt -- and will enter into a code-sharing agreement with KarstadtQuelle AG's budget airline Condor, thereby ending its previous commitment with TUIfly.
Intro's chief executive Rudolf Woehrl said a combination of Condor and LTU would have resulted in synergies as well, but added that "an entrepreneurial company such as Air Berlin (...) can react significantly faster and more flexibly to new opportunities than a large company."
Air Berlin's chief executive Hunold said the reason for the new cooperation is that TUI's move to combine its German airlines Hapagfly -- with which Air Berlin had a cooperation -- and HLX last year has created a direct competitor.
Date posted: 28-Mar-07
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TUI's TUIfly says it 'will not tolerate' Condor, Air Berlin, LTU monopoly 
