Intro Aviation to acquire majority stake in TUI’s Corsair
German tourism specialist TUI Group has agreed to sell a 53% stake in French long-haul carrier Corsair to German investor Intro Aviation for an undisclosed sum. Intro will acquire the majority stake “as a first step,” TUI said Monday. Following the sale, Corsair’s Employee Benefit Trust will hold 20% of the airline and TUI will initially retain a 27% minority stake, the group said. Corsair operates a fleet of 7 long-haul aircraft, comprising 2 Airbus A330-200s, 2 A330-300s and 3 Boeing 747-400s. TUI said Corsair was “unable to deliver any synergy effects” for the group, which is now focused on hotels, cruise ships and destination activities. After the sale, TUI will still operate 5 European charter airlines: TUIfly Belgium, TUIfly Netherlands, UK-based TUI Airways, TUIfly Deutschland and TUIfly Nordic. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-03-19/unaligned/intro-aviation-to-acquire-majority-stake-in-tui2019s-corsair
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Intro Aviation to acquire majority stake in TUI’s Corsair
German tourism specialist TUI Group has agreed to sell a 53% stake in French long-haul carrier Corsair to German investor Intro Aviation for an undisclosed sum. Intro will acquire the majority stake “as a first step,” TUI said Monday. Following the sale, Corsair’s Employee Benefit Trust will hold 20% of the airline and TUI will initially retain a 27% minority stake, the group said. Corsair operates a fleet of 7 long-haul aircraft, comprising 2 Airbus A330-200s, 2 A330-300s and 3 Boeing 747-400s. TUI said Corsair was “unable to deliver any synergy effects” for the group, which is now focused on hotels, cruise ships and destination activities. After the sale, TUI will still operate 5 European charter airlines: TUIfly Belgium, TUIfly Netherlands, UK-based TUI Airways, TUIfly Deutschland and TUIfly Nordic. <br/>
