The merger between Tui Travel and its German parent Tui AG was completed today to create the world’s largest tourism group.

The combined business has 77,000 staff across 130 countries.

Joint chief executive Friedrich Joussen said: “Under the roof of the new Tui Group we want to grow and increase our international market position.

“Therefore, this is a good day for our customers, our shareholders and our employees. Tui is a pioneer in shaping the future of the tourism industry in terms of service, quality and innovation.”

His fellow joint chief executive Peter Long said:
“This is a fantastic day for Tui, now the world’s number one integrated leisure tourism business.

“We will successfully future proof our new group by securing long-term access to unique content which will allow us to accelerate our growth plans.

“In addition, we have identified significant efficiencies and cost savings. All this will lead to greater shareholder value, from our first full financial year.

“Personally, I am very excited about what the future holds and the opportunities that lie ahead for us as Tui Group.”