November 24, 2008
Merger talks between Air Berlin and charter airline TUIfly are close to collapsing, sources familiar with the matter said on Monday.
"Prospects for an agreement are bad, but a final decision has not yet been made," one source said.
A spokesman for Air Berlin, Germany's second-biggest airline, said talks were ongoing, and Tuifly declined to comment on the matter.
TUIfly is part of TUI Travel, which is majority-owned by German tourism group TUI.
Last July, Air Berlin scrapped its takeover of Thomas Cook's charter airline Condor, putting the brakes on attempts to expand its network to rival Lufthansa.
It blamed having to call off the deal on high oil prices and a slowing economy.
(Reuters)
Merger talks between Air Berlin and charter airline TUIfly are close to collapsing, sources familiar with the matter said on Monday.
"Prospects for an agreement are bad, but a final decision has not yet been made," one source said.
A spokesman for Air Berlin, Germany's second-biggest airline, said talks were ongoing, and Tuifly declined to comment on the matter.
TUIfly is part of TUI Travel, which is majority-owned by German tourism group TUI.
Last July, Air Berlin scrapped its takeover of Thomas Cook's charter airline Condor, putting the brakes on attempts to expand its network to rival Lufthansa.
It blamed having to call off the deal on high oil prices and a slowing economy.
(Reuters)