Mon, 28 Nov 2022 Today's Paper

Etihad breaks off talks with TUI for leisure airline

9 June 2017 11:18 am - 0     - {{hitsCtrl.values.hits}}

A A A

AFP: United Arab Emirates carrier Etihad has broken off talks with German travel group TUI to jointly create a leisure airline, both companies said yesterday.
Abu Dhabi-based Etihad and troubled Air Berlin, of which Etihad is a majority owner, had last October announced plans to form a new leisure airline by merging Air Berlin’s Austrian subsidiary Niki with TUI subsidiary TUI fly.
But yesterday, TUI informed its employees in a letter seen by AFP that Etihad had “decided not to continue the negotiations with us. This is unfortunate but can’t be changed”.
TUI then confirmed the collapse of joint venture talks in a statement in which it added that it generally “remains open to a partnership or the creation of joint ventures”.
Etihad Aviation Group confirmed it had “terminated negotiations with TUI AG, in relation to a potential joint venture involving the leisure operations of Air Berlin Group and the German TUI fly company”.
“Etihad has taken this decision following many months of negotiations, in good faith, during which time the parties have been unable to reach agreement on the final nature of such a joint venture.
“The leisure operations of Air Berlin group will now continue to operate as a separate business unit, under the NIKI brand. Further details of this structure will be announced in due course by Air Berlin.”
The news raises fresh questions about the fate of loss-making Air Berlin, Germany’s second largest airline, which depends on cash infusions from Etihad for survival.
The German airline booked losses amounting to 1.2 billion euros (US$1.3 billion) for the last two years and said Wednesday it was open to working with Germany’s biggest airline, Lufthansa.
Air Berlin had presented a restructuring plan in September that included renting 38 aircraft with crew to Lufthansa and slashing 1,200 jobs or one in seven of its workforce.


Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Downfall and death of LTTE’s Mahathaya

The Liberation Tigers of Tamil Eelam (LTTE) ceased to exist as a functioning

Rishi Sunak; why SL did not have a Tamil or Muslim as President?

Britain now has a British Asian, Hindu Prime Minister, though Rishi Sunak is

How and why MGR launched ADMK 50 years ago

17 October 1972 was a Tuesday. Fifty years ago on that auspicious day, a new

Amitabh Bachchan: Evergreen Emperor of Hindi cinema turns 80

Well-known Hindi film actor Amitabh Bachchan celebrated his eightieth birthda