TUI Group sells French scheduled carrier Corsair

Corsair ©AirTeamImages

TUI Group has sold a majority stake in its French airline Corsair to German investor INTRO Aviation. INTRO will acquire a 53% stake in Corsair as a first step. Under the agreement, TUI Group will initially retain a minority stake of 27%, while Corsair’s Employee Benefit Trust will retain a 20% stake. The financial details of the agreement have not been disclosed.

The French long-haul scheduled carrier is unable to deliver any synergy effects for TUI Group, TUI tour operators and cruise companies, and the Group’s five European charter airlines. The sale will reduce TUI’s fleet by seven long-haul aircraft: three 747-400s as well as two A330-200s and A330-300s each.

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