TUI Expands Reach with New Low Cost Carrier | Business| Economy and finance news from a German perspective | DW | 16.09.2003
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TUI Expands Reach with New Low Cost Carrier

TUI, the world's largest travel group which is already active in the German low-fares market with Hapag-Lloyd Express, has announced plans to turn Britannia, its British subsidiary, into a low-fares carrier. TUI is seeking to gain a bigger share of the hard-fought European cheap flights market by changing Britannia into a classic low-fares airline, according to the German travel giant. In response to the market's strong growth, TUI will use the new low cost carrier to serve the British market with flights mainly to holiday destinations, exploiting the fact that the British holiday market has grown by 5 per cent over the last four years, almost exclusively as a result of low-fares demand.