TUI's TUIfly says it 'will not tolerate' Condor, Air Berlin, LTU monopoly |
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Published
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Tue, 27 Mar 2007 10:26
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FRANKFURT (AFX) - TUI AG's TUIfly unit said it 'will not tolerate a possible monopoly' following a code-sharing agreement between Condor, Air Berlin and LTU.TUIfly spokesman Herbert Euler said 'the code-sharing agreement between TUIfly and Air Berlin was under review anyway' and added that such an agreement between Condor, Air Berlin and LTU would need approval by the cartel office.Air Berlin Plc said today it bought 100 pct of LTU from Intro GmbH for 140 mln eur -- including 190-200 mln eur debt -- and will enter into a code-sharing agreement with KarstadtQuelle AG's budget airline Condor, thereby ending its previous commitment with TUIfly.Intro's chief executive Rudolf Woehrl said a combination of Condor and LTU would have resulted in synergies as well, but added that 'an entrepreneurial company such as Air Berlin (...) can react significantly faster and more flexibly to new opportunities than a large company.'Air Berlin's chief executive Hunold said the reason for the new cooperation is that TUI's move to combine its German airlines Hapagfly -- with which Air Berlin had a cooperation -- and HLX last year has created a direct competitor.patrizia.kokot@thomson.compk/mas/twCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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TUI may sever ties with charter airlines Condor, LTU following possible merger 