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Lufthansa in talks with TUI regarding creation of low cost airline - report
Airline Industry Information, Jan 29, 2008
AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD
German based carrier Lufthansa has entered into talks with TUI, a German travel and transport group, regarding the creation of an economy carrier.
According to a statement issued by the companies, the partners have signed a letter of intent regarding a merger of TUI Travel, Hapag-Lloyd and Hapag-Lloyd Express with Lufthansa units Germanwings and Eurowings, AFP reported.
The statement also added that Albrechet Knauf, a partner with Lufthansa in Germanwings and Eurowings, would hold a major stake in the new carrier.
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