TUI Travel signs MoU with Lufthansa and Albrecht Knauf Industriebeteiligung to merge Germanwings, Eurowings and TUIfly

Tags :Continental Europe, Germanwings


TUI Travel PLC on 29-Jan-08 signed a Memorandum of Understanding with Deutsche Lufthansa AG and Albrecht Knauf Industriebeteiligung GmbH, allowing the parties to proceed with plans to merge their subsidiaries, Hapag-Lloyd Fluggesellschaft GmbH, Hapag-Lloyd Express GmbH, Germanwings GmbH and Eurowings Luftverkehrs AG under a joint and independent holding company.

 

The prerequisites for the conclusion of legally binding agreements will be a due diligence process and negotiations of the specific details. The merger will require approval by the relevant bodies of the companies involved and by the anti-trust authorities.

(c) Centre for Asia Pacific Aviation Premium. Date posted: 30-Jan-08.

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