-
Michael Frenzel and his team decided to exit the smelting and mining industry, thus it is too cyclical and the profitability was decreasing from year to year.
-
First the company bought Hapag-Lloyd AG, then made the complete acquisition of TUI Deutschland and took a significant equity share of Magic Life
-
Hapag Touristik Union, the tourism division of Preussag, purchased approximately 30% of Thomas Cook.
-
HTU acquired majority stake in Thomas Cook.
-
Hapag Touristik Union was renamed to TUI GROUP and jumped into the Europen market. It take over the control of several companies and created acquisitions in many cases such as the takeover of British Thomnson Travel Group then took stake in the French Nouvelles Frontieres furthermore the acquistion of Fritidsresor. Now TUI group one of the leading company in tourism all around the world.
-
All the brands and companies were put under the umbrelle of the WORLD OF TUI. The group was fully repositioned towards tourism.
-
TUI Air Management was created in order to manage the six group airlines centrally.
-
Preussag Ag was renamed to TUI AG.
-
-
In order to adjust the slump in tourism, the group started a cost-cutting programme
-
Tui China was created for Chinese tourist travelling to Germany.
-
-
TUI set up TMR, the Russian tour operator through joint venture.
-
TUI launched the virtual tour operator in Germany
-
-
TUI took over the full control of the Canadian shipping company.