Below are services offered by TUI AG:
The repositioning undergone by TUI AG and its predecessor Preussag AG is unprecedented in German corporate history. Within only a few years, the Group with about 58,000 employees underwent a degree of restructuring which normally takes decades at a macroeconomic level. The former industrial conglomerate developed into a modern innovative tourism group – a European leader.
In the middle of the Nineties – in a difficult economic environment – Preussag AG management made the far reaching decision to enter the services growth market with tourism as the core business. A breathtaking process started involving restructuring, investment and divestment. In 1997, a strong partner in the form of Hapag-Lloyd AG was acquired with its own travel agency chain, airline and global logistics services. With the complete acquisition of TUI Deutschland, the Group gained the leading quality brand for package holidays. And the tourism value chain was rounded off with the take-over of the FIRST travel agency chain and the shareholding in Magic Life: an integrated tourism group was born.
A crucial step in the European market came in 2000 with the complete take-over of the British Thomson Travel Group with its strong brands and shareholdings – also in the Scandinavian market (Fritidsresor). In the same year, the Group acquired a stake in the French tourism group Nouvelles Frontières, which has now been completely taken over. The acquisition of additional shareholdings and the establishment of new companies in countries such as Belgium, Switzerland and Eastern Europe gained the Group major positions in all of the important European markets and made it the leading tourism group in the world.
The repositioning of the Group is now virtually complete. Step-by-step, the Group has rigorously shed its industrial shareholdings – which still accounted for 93 % of consolidated turnover in 1997 – and gained a clearly structured business portfolio. The remaining industrial activities such as steel trading in the USA are in the winding up phase or are to be sold in the foreseeable future.
The logistics activities bundled within Hapag-Lloyd AG were concentrated on the highly profitable shipping sector.
More than 65 per cent of turnover was already generated by the tourism division in the 2003 financial year. By 2005, tourism will account for around 85 per cent of turnover. Shipping will account for around 15 per cent.
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