Cyprus Mail
Cyprus

Germany’s TUI Group buys Aeolos non-web operations

By Stelios Orphanides

German tour operator TUI Group agreed to buy the remaining 50 per cent of the “offline” activities of Aeolos Travel from the Limassol-based Francoudi & Stephanou Group for an undisclosed amount, an Aeolos director said.

Under the terms of the agreement which is subject to approval of Cyprus’s Commission for the Protection of Competition, Francoudi & Stephanou “will take full control of Aeolos Cyprus Travel Ltd, its existing online business and subsidiaries,” Sotos Stephanou, managing director at Aeolos Travel said. “TUI will take charge of the Cypriot leading travel firm’s offline activities, as part of its mainstream destination services model”.

Related posts

Land department denies nefarious goings-on over land valuations

Elias Hazou

Walkers complain of dangerous mountain trails

Annette Chrysostomou

Paphos district residents call for removal of phone masts from area, citing cancer cluster

Lizzy Ioannidou

Turkish superiority should not distract us from the aim to find a Cyprus solution, House President says

Source: Cyprus News Agency

Ozersay departs for New York, Akinci to follow on Monday

Lizzy Ioannidou

Two outstanding cultural sites in Karpas peninsula restored as a result of bicommunal cooperation

Source: Cyprus News Agency