TUI Travel buys 60% of Jet4you

German Carrier TUI Travel has acquired 60% of the shares of the Moroccan low-cost carrier "Jet4you". According to a Jet4you official, the shares purchase came following a partnership agreement between the two parties.

According to the same source, TUI travel could not buy more than 50% of the Moroccan company before Morocco ratified the Open Sky agreement, which allowed Moroccan and European airport authorities to let TUI be part of Jet4you shareholders.

Since its inauguration flight on February 26, 2006 the company has serviced 679 flights linking the cities of Marrakech, Fès and Agadir to Paris-Orly, and Marrakech to Nantes and Bordeaux. The company has flown some 92,255 passengers, reaching a 79% seat fill capacity and a 72% punctuality rate.

TUI Travel PLC is an international leisure travel company, operating in 180 countries and serving 30m customers. It is headquartered in Crawley, West Sussex, England. It was created by a merger of the tourism division of TUI AG, which owns 51% of the company, and First Choice Holidays PLC. TUI AG is an internationally active group with the sectors of tourism and shipping. In both these divisions TUI commands a leading market position: number 1 among the European travel companies and number 5 in the world of container shipping. In the financial year 2007 the turnover of TUI AG was €21.9 billion with total earnings of €616 million (underlying EBITA). On 31 December 2007 the headcount totalled 68,500 employees.


Tags: Moroccan Morocco Fes, Maghreb news