TUI Group and Etihad Aviation Group will not continue their negotiations about the planned joint venture between the German aviation subsidiary TUI fly and Niki.
The goal of the talks between the two companies was to form a strong European leisure airline.
Sebastian Ebel, the member of TUI AG’s executive board in charge of the central region, said: “A strong European leisure airline continues to make great strategic sense.
“After all, the aviation sector is characterised by overcapacity in Germany.
“However, Niki is no longer available for a joint venture.
“We will push the repositioning of TUI fly further ahead in order to develop long-term prospects for the airline and its employees.”
TUI Group remains prepared to contribute to the stabilisation of the German aviation market, added a statement from the company.
TUI therefore remains open for a partnership or the formation of joint ventures serving the strategic goal of reshaping the market.