TUI Group airline segment feeling overcapacity pressure but not concerned with business model: CEO

    TUI Group CEO Friedrich Joussen said the group is not concerned with its business model following the insolvency of Thomas Cook Group (Handelsblatt, 24-Sep-2019). He argued the two companies are not comparable, adding 70% of TUI Group‘s revenue stems from operating hotels or cruise ships, with only 30% from the classic tour operator business. He also said while its airline segment is “feeling the pressure” of overcapacity, its margins are primarily made in travel experiences such as hotels, cruise ships and tourism activities in destination countries.