On March 30, 2009, TUI Travel PLC, which comprises the entire tourism business of the TUI group, announced the conclusion of an agreement with Air Berlin PLC regarding a strategic cooperation in the German aviation business.
A key element of the agreement between TUI Travel and Air Berlin is the takeover of TUIfly’s city carrier business by Air Berlin starting from the 2009/10 winter timetable. Moreover, TUIfly will provide air travel services for Air Berlin on the basis of long-term wet lease contracts, including the leasing of complete crew, maintenance and insurance. The charter business will remain with TUI Travel.
Furthermore, the agreement between TUI Travel and Air Berlin provides for a cross-shareholding in which TUI Travel will acquire a 19.9% stake in Air Berlin via a subsidiary. In return, Air Berlin will indirectly acquire a participation in the same percentage in TUIfly. The transaction is still subject to the approval of the competent antitrust authorities.
TUI Travel was advised by the following Gleiss Lutz lawyers, in particular: Dr. Fred Wendt, Dr. Ralf Thaeter (both lead partners), Dr. Patrick Binzel, Dr. Barbara Maske-Reiche, Dr. René Schober, Philip Bacher, Ludmilla Maurer (all corporate/M&A, Berlin), Dr. Michael Marquardt (partner, Frankfurt), Dr. Johann Wagner (Berlin, both tax), Dr. Helge Kortz (Partner), Dr. Michael Klose, Teresa Baldwin (all finance), Dr. Martin Bartlik (air traffic law, all Frankfurt), Dr. Ulrich Soltész (partner), Philipp Melcher (both antitrust/state aid, Brussels), Dr. Stefan Lingemann (partner), Dr. Meike Gotham, Matthias Müller (all labour law, Berlin), Dr. Stefan Weidert (partner), Dr. Roland Witzel, Dr. Matthias Werner (all IP/IT, Berlin), Dr. Viktoria Ludwig as well as Dr. Monika Tabaka-Dietrich (both real estate/public law, Berlin).
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