BERLIN (AP) — German travel company TUI Travel Plc said Thursday it will take a 9.9 percent stake in the nation's second most important airline, Air Berlin Plc.
Hannover-based TUI said its Leibniz-Service GmbH company will acquire new shares, giving Air Berlin — Germany's second largest airline after Deutsche Lufthansa AG — €33.5 million ($49.22 million) in fresh capital. The transaction is to be completed later this month.
Air Berlin recently received regulators' approval to take over several routes of TUI's own airline, TUIfly.
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