TUI, Lufthansa and Thomas Cook in three-way airline merger talks

Further consolidation within the European airline industry could be likely after three heavyweights in the German leisure and charter market announced they are endeavouring to merge.TUI, Thomas Cook and Lufthansa are in talks of a three-way merger between TUIfly Germany, Lufthansa-owned Germanwings, and Condor, a venture between Thomas Cook and Lufthansa.
Consolidation within the German low-cost market looks on the cards. TUIfly was already in talks to merge with Germanwings. Last month Air Berlin pulled out of an agreement to buy Condor.
“TUI Travel announces today (Thursday) that it is in early discussions with Lufthansa and Thomas Cook in relation to a potential merger of Condor, Germanwings and TUIfly Germany,” TUI Travel said in a statement that was also confirmed by Thomas Cook.
“However, no commercial terms have been agreed. There is no certainty that any transaction will result and a further announcement will be made if and when appropriate.”