The supervisory board of German holiday company TUI Group has given the go-ahead to create a European leisure airline group together with Abu Dhabi-based Etihad Aviation Group. The new holding company will be based in Austria, with Etihad holding a 25% stake and TUI taking a 24.8% stake. The remaining 50.2% share is expected to be held by an Austrian foundation to ensure Austrian majority ownership and maintain international traffic rights. The airline will operate aircraft from TUI ...

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