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TUI Travel PLC was a British leisure travel group headquartered in Crawley, West Sussex.The company was formed on 3 September 2007 by the merger of First Choice Holidays PLC and the Tourism Division of TUI AG, which owned 56.4% of it. [2]
The major operators were Thomson Holidays and First Choice part of TUI AG and Thomas Cook AG. [needs update] Thomas Cook Group ceased operations in 2019 due to bankruptcy. As of 2023, Jet2holidays is the UK's largest tour operator, with TUI UK following in second place.
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TUI AG (trading as TUI Group) is a German multinational leisure, travel and tourism company; it is the largest such company in the world. [2] [3] TUI is an acronym for Touristik Union International ("Tourism Union International"). TUI AG was known as Preussag AG until 1997 when the company changed its activities from mining to tourism.
In 1981, Thomson Holidays were the first recorded users of Business-to-Business online shopping. [4] The business was floated on the London Stock Exchange with a valuation of £1.7 billion as Thomson Travel in May 1998. [5] [6] In 2000, Thomson Travel was acquired by Preussag AG, an industrial and transport conglomerate. [7]