TUI Travel takes Air Berlin stake, BBC reported on October 9th, 2009.
TUI Travel is to take a 9.9% stake in Air Berlin, in a deal that will give Germany's second-largest airline 33.5m euros ($49.4m; £30.8m) in new capital.
Hannover-based TUI says its Leibniz-Service company will complete the transaction later in October.
Air Berlin recently received approval to takeover several routes of TUI's own airline, TUIfly and thus flies to Sardinia (Olbia and Cagliari) from the German cities of Cologne, Stuttgart and Munich into Sardinia under an Airberlin flight number.
The proceeds from the deal will be used for general corporate purposes, Air Berlin says.
In September, Air Berlin and TUIfly scrapped plans for a cross-shareholding deal.
TUI Travel is to take a 9.9% stake in Air Berlin, in a deal that will give Germany's second-largest airline 33.5m euros ($49.4m; £30.8m) in new capital.
Hannover-based TUI says its Leibniz-Service company will complete the transaction later in October.
Air Berlin recently received approval to takeover several routes of TUI's own airline, TUIfly and thus flies to Sardinia (Olbia and Cagliari) from the German cities of Cologne, Stuttgart and Munich into Sardinia under an Airberlin flight number.
The proceeds from the deal will be used for general corporate purposes, Air Berlin says.
In September, Air Berlin and TUIfly scrapped plans for a cross-shareholding deal.
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