Air Berlin-TUIfly cross-shareholding plans withdrawn, but TUIfly city flight takeover approved

Air Berlin and TUI Travel announced they would no longer implement the cross-shareholdings that were previously announced. However, the other commercial agreements and the strategic benefits of the transfer of TUIfly’s scheduled flying business will remain. [1161 words]

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This report contains the following subheadings:

• Takeover will strengthen Air Berlins’ presence in Cologne, Stuttgart and Italy
• TUI Travel to focus on remaining touristic flights portfolio
• BlueBay acquires bonds
• Unit revenues improve in Aug-2009
• Select network expansion continues
• Union concerns

This report contains the following charts and tables:

• TUI Group 
• Air Berlin revenue RASK growth (% change year-on-year): Jun-2008 to Aug-2009
• Air Berlin vs AEA passenger growth (% change year-on-year): Jan-2008 to Aug-2009