German travel conglomerate TUI announced yesterday that it signed an MOU with Lufthansa to combine their LCC subsidiaries under one "joint and independent holding company." TUI owns TUIfly, the combination of Hapag-Lloyd Flug and Hapag-Lloyd Express, while Lufthansa partners with Germanwings and Eurowings along with Albrecht Knauf Industriebeteiligung. The latter also signed the MOU, TUI said. Agence France Presse said a mid-2009 timeframe for finalization is TUI's target. No other details ...

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