TUI (Thomson and First Choice has announced 20 sustainable travel commitments for 2011. Launched at The Economist’s Sustainable Business Summit, the ambitious three year commitments reinforce the company’s position at the forefront of sustainable tourism – it is the only travel company to introduce such wide ranging and measurable objectives.

Improving demand has helped TUI end its financial year on a high, with losses narrowing despite tough trading and a large hit caused by the Icelandic ash cloud crisis. Customers of Europe’s largest travel group were also shifting to all-inclusive packages as they seek value in times of austerity.

On 10 August 2010, as part of its results for the third quarter and nine months ended 30 June 2010 (unaudited), TUI Travel reported that following completion of the integration of IT systems in its UK mainstream business, it had written off a number of legacy receivable balances that had built up over an extended period of time

Sotiris Damianos, former founding director of one of TUI’s hotel sites, has become an active partner in The San Francisco Mystery SL, which is behind the emerging Greek sailing and yacht charter holiday specialist, 48options.com.

Shares in British-based TUI Travel have climbed sharply, following speculation majority owner TUI AG is considering consolidating its position. The Hanover-based parent presently owns 57.5 per cent of its subsidiary, and is reportedly considering a move for the remaining shares.

Tui Travel has launched the Spanish version of its holiday review and planning website Cheqqer. The company has also set up local operations to run the business.