First Choice Holidays and the tourism
division of TUI completed their merger, creating a new company, TUI
Travel.
First Choice
Holidays' stock was de-listed last Monday, when the ordinary shares
of the combined group, TUI Travel, began trading on the London
Stock Exchange.
According to TUI
Travel, a detailed review of all its businesses will take place
over the coming months and will be presented in January.
Peter Long, CEO of
TUI Travel, said in a statement that the company was "well
positioned to deliver strong organic and acquisition-led
growth."
In July, a released
merger plan said that TUI Travel would continue down the
acquisition path already set in motion by First Choice and the
tourism division of TUI.
It said that TUI
Travel would be looking for small and medium investments in growing
niche segments, including student travel in North America,
international escorted tours, adventure travel and online
content.
TUI Travel also
plans to expand into the Asia-Pacific and Latin America
markets.
TUI Travel consists
of more than 200 brands worldwide. It claims to have a customer
base of 30 million from more than 20 source markets.
The company also
has a fleet of 155 aircraft in Europe, almost 3,600 retail
locations throughout Europe and about 48,000 employees.
TUI Travel includes
a number of tour operators in North America, including Country
Walkers, International Expeditions, Intrav, Travcoa, Park East, TCS
Expeditions, Trek America, Footloose and the Moorings.
To
contact reporter Michelle Baran, send e-mail to [email protected].