From Wikipedia, the free encyclopedia
|Traded as||LSE: TT.|
|Headquarters||Crawley, England, UK|
|Key people||Michael Frenzel (Chairman) , Sir Michael Hodgkinson (Deputy Chairman), Peter Long (Chief Executive)|
|Products||Passenger transport, travel agency, accommodation|
|Revenue||£14.46 billion (2012)|
|Operating income||£301 million (2012)|
|Net income||£137 million (2012)|
|Owner(s)||TUI AG (55.74%)|
TUI Travel PLC is an international leisure travel group listed on the London Stock Exchange. It was formed on 3 September 2007 by the merger of First Choice Holidays PLC and the Tourism Division of TUI AG, which owns 55.74% of the company, operating in 180 countries and serving 30m customers. It is headquartered in Crawley, West Sussex, England and is a constituent of the FTSE 100 Index.
The company was founded in 1923 in Berlin as Preußische Bergwerks und Hütten-Aktiengesellschaft operating in the industrial sector. In 1959 it was first listed on the Frankfurt Stock Exchange and in 1964 became Preussag. In 2000 it acquired Thomson Travel and in 2002 bought Hapag Lloyd, which itself owned the travel firm TUI (formerly Touristik Union International), and renamed itself TUI AG.
The company was founded in 1973 as Owners Abroad operating as a travel agent. It first listed on the London Stock Exchange in 1982. In 1987 it launched Air 2000 and in 1990 acquired Redwing. It changed its name to First Choice in 1994.
The merger of the Travel Division of TUI AG with First Choice was completed in September 2007 to create TUI Travel PLC.
The Company is organised into four sectors:
- Central Europe
- Northern Europe
- Western Europe
- Accommodation and Destinations
- Specialist and Activity
- Emerging Markets