Manufacturing Industry
TUI in talks over sale of aircraft maintenance unit
Airline Industry Information, August 11, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Tourism group TUI AG is in talks to sell its aircraft maintenance division to either Lufthansa Technik, Singapore Airlines or SR Technics.
A spokesperson for the German-based group said that talks had been held with the three interested parties on 10 August 2004 but the company is also considering an option to retain and improve the business.
TUI has a fleet of 100 aircraft and a maintenance crew of 1,100 employees. At the moment the company is struggling to fend off takeover talk as it edges closer to falling out of the German DAX index, reports Reuters.
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