TUI Travel’s Strategy to Deliver Strong Returns to Shareholders

The results of the 100 day review following the completion of the merger between First Choice Holidays PLC and the tourism division of TUI AG in September 2007 were announced by TUI Travel PLC.

“The 100 day review has confirmed my initial view that TUI Travel will deliver superior returns for our shareholders. The integration of the two businesses is progressing very well and accordingly, we have upgraded our synergy target by 50 percent to an annualized £150 million,” said Peter Long, Chief Executive Officer of TUI Travel.

“We have now developed a clear vision and strategy for growth that goes beyond the delivery of the cost synergies. We will leverage our unique portfolio of market leading brands, grow our level of differentiated content and controlled distribution and optimize our business model to deliver organic growth. In our portfolio of specialist businesses we are aiming to continue to deliver a mix of strong underlying organic growth and value enhancing acquisitions,” he went on to say.