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Pin to quick pickseasyJet Share News (EZJ)

Share Price Information for easyJet (EZJ)

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Share Price: 541.60
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Ask: 543.40
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Second European carrier looking at TUIFly deal - labour representative

Fri, 23rd Sep 2016 13:57

BERLIN, Sept 23 (Reuters) - A second European carrier couldbe interested in a stake in German charter airline TUIFly, partof travel and tourism group TUI, following interestfrom Britain's easyJet, a TUIFly labour representativesaid on Friday.

A German magazine reported on Thursday that easyJet is closeto taking a stake in TUIFly as a way to ensure flying rightswithin the European Union should Britain leave the EU and notagree access to the bloc's single aviation area.

"There's another European airline to whom TUIFly could besold," Martin Locher, TUIFly pilot and supervisory board membertold Reuters on Friday.

He declined to name the airline, but said it was a non-EUcarrier. He also said it was not clear if talks with easyJetwere continuing.

EasyJet declined to comment. TUI Group was not immediatelyavailable to comment.

Both Locher and Andreas Barczewski, a member of the TUIGroup and TUIFly supervisory boards, said any sale of TUIFlyagainst the wishes of employees and unions would be resisted.

Management at TUI is reshaping the travel group, which wascreated in 2014 by the merger of London-listed TUI Travel andGerman majority owner TUI AG and is focusing on its touroperations, hotels and cruises.

Along with TUIFly, the TUI Group also includes airlinesThomson Airways, ArkeFly and JetairFly. TUI has said it istargeting 50 million euros ($56 million) in operationalimprovements at its airlines by the 2018/19 financial year.

Chief Executive Fritz Joussen said in August TUI was seeingpressure at the German airline due to overcapacity in themarket.

($1 = 0.8914 euros) (Reporting by Peter Maushagen; Additional reporting by ArnoSchuetze and Sarah Young; Writing by Victoria Bryan; editing bySusan Thomas)

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