Following the development, the German Group will own the offline, tourist agency operations, while the Cypriot company will be responsible for those online
TUI’s acquisition of Aeolos is nearing completion, following which all offline tourist activities will become property of the German tourist giant TUI and all online operations will fall under Aeolos.
Following the announcement of this development, already approved by the competent authorities, the companies will proceed with the separation of their operations, financial accounts and staff.
These procedures are expected to be completed within the coming weeks, allowing TUI and Aeolos to focus on their offline and online operations, respectively.
TUI will continue its tourist operations on the island, carrying some 300,000 tourists to Cyprus each year. Meanwhile, Aeolos will assume responsibility for the online projects bookCyprus and bookMalta, which are mainly engaged in inbound tourism in both countries.
Aeolos and TUI have a long history of strategic cooperation and have had a shareholder relationship for some 20 years. Aeolos representatives have stressed that relations between the companies remain exemplary.
TUI’s acquisition of Aeolos is nearing completion, following which all offline tourist activities will become property of the German tourist giant TUI and all online operations will fall under Aeolos.
Following the announcement of this development, already approved by the competent authorities, the companies will proceed with the separation of their operations, financial accounts and staff.
These procedures are expected to be completed within the coming weeks, allowing TUI and Aeolos to focus on their offline and online operations, respectively.
TUI will continue its tourist operations on the island, carrying some 300,000 tourists to Cyprus each year. Meanwhile, Aeolos will assume responsibility for the online projects bookCyprus and bookMalta, which are mainly engaged in inbound tourism in both countries.
Aeolos and TUI have a long history of strategic cooperation and have had a shareholder relationship for some 20 years. Aeolos representatives have stressed that relations between the companies remain exemplary.