Tourism, the German TUI focuses on aircraft, ships and the Internet to overcome the crisis

FRANKFURT â € "The actions of Tui, the most important European company in the field of tourism , closed Friday 15 December were down 2.68% to 15.61 euros in the wake of a downward revision of earnings, the cancellation of dividend and confirmation of a strategy that is now criticized by some shareholders.
€ ™ s company announced 3,600 cuts in staff, in line with forecasts in recent days, then canceling the dividend for 2006 and revising its target of doubling profits in two years: in 2008 the company aims to become an operating margin gross 1.05 billion from 633 million in 2005.
In addition to job cuts, particularly in Britain and Germany, the strategy of â € ™ Company, presented at a press conference by the chairman Michael Frenzel, provides € ™ s inauguration in 2008 of 26 new hotels with a total of 20 thousand beds, and other € ™ s purchase of 41 Boeing airplanes to replace older.
Moreover, Frenzel also explained that the various airlines Tui will be grouped to form Tuifly.com and intends to strengthen the Internet: the company currently generates only 18% of its turnover in the network wants to increase this share to 50% by the next three years.
Finally, the company announced a joint venture with Carnival in the cruise industry. In this context € ™ s German company plans to build by 2010 a first vessel for three thousand people. Carnival is the group owner in Italy of Costa Crociere.
In their strategy, executives of Tui, is active in tourism and in logistics, have rejected any division or stew into the company, as some large ¬ dâ € ™ investment funds have asked in recent months.
 'A supply of maritime transport is not currently feasible and clearly reject the appeals in this direzioneÂ, "Frenzel said Friday December 15. Just recently € ™ s logistics activities is been increased by € ™ s acquisition of Canadian CP Ships.
With this package of measures Tui, in trouble long before the financial results, will improve profitability in the sector of tourism , opening new businesses and cut costs, especially of about 250 million.

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