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Lufthansa, TUI to launch talks on setting up joint low-cost airline

29 January 2008

Deutsche Lufthansa AG and TUI AG are planning to enter into official negotiations concerning the set up of a joint low-cost airline.

Following months of preliminary talks, TUI Travel head Peter Long is to announce this at an investors’ conference in London tomorrow, the paper said.

According to the report, Lufthansa and TUI are to each hold 40 pct in the new airline, while Germanwings co-owner Albrecht Knauf is to hold the remaining 20 pct.

source: Hemscott

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