Tui Group has issued an assurance that the UK will remain a “core” market despite the company ending its dual listing on the London and Frankfurt stock exchanges.
The decision to list in London a decade ago was a “key factor” in the takeover and integration of the former Tui Travel into Tui Group.
“However, in the course of the group’s transformation, share custody and liquidity of the Tui share on the stock exchanges have increasingly shifted towards Germany, prompting investors to initiate initial discussions on a change to the dual listing,” the company said.
“The change of stock exchange location from London to Frankfurt has no impact on Tui’s companies and activities in the UK market. This market is and will remain a core market for the group.”
The future is geared towards profitable growth, with more customers, new products and new markets to be developed, while digitalisation “offers many new opportunities” for the group.
Dynamically packaged offerings and app sales are also set to drive growth.
The company said: “The integration of over-the-counter distribution with Tui’s own travel agencies, franchise partners, independent travel agencies and online distribution guarantees customers a wide range of products and equally high quality advice and individual service. Tui will continue to stand for this in the future.”
Chief executive Sebastian Ebel said: “Today is a milestone for Tui, reflecting the transformation of the group.
“As of today, Frankfurt is our stock exchange again. We are thus placing a clear focus on one stock exchange listing – instead of two previously.
“This increases the visibility and attractiveness of our share for our global investors.
“As a brand, Tui is at home in the world, with a strong presence in Europe and in destinations in more than 100 countries around the world, as well as its headquarters and stock exchange listing in Germany.
“We want to expand our international presence, continue to grow profitably and support this growth with simpler structures.
“By doing so, we will create more value for the company, its employees, customers and shareholders.”
The group pledged expansion and strengthening of quality and service “in all areas”.
This also includes the sustainable transformation of all business segments.