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The largest tour operator in Europe, the German TUI AG plans to take the second place in the Russian tour market. The company redefines its business model and intends to keep on its expansion in the Russian and Chinese markets, said the Chief Finance Officer Horst Baier in his interview to Bloomberg.
“We are currently No. 5 in Russia and plan on becoming No. 2 in the next two to three years,” Baier said. “In Asia we are at the very beginning of our journey but plan to expand in China and India.”
As a part of its strategy TUI plans to sell its remaining stake in the Hapag-Lloyd AG container-shipping business in January. The travel company still owns 38.4 percent of Hapag-Lloyd and has the option to sell a stake to Ballin on Jan. 2.
Author: Irina Fomina
