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  • TUI AG is a German multinational travel and tourism company headquartered in Hannover. Until 2001 it was an industrial and transportation company named Preussag AG, which in the mid-1990s decided to reinvent itself as a tourism, shipping, and logistics company. Today, TUI AG is the largest leisure, travel and tourism company in the world. It owns travel agencies, hotels, airlines, cruise ships and retail stores. Major subsidiaries include TUI AG Airlines, the largest holiday fleet in Europe, and UK-based tour operator Thomson. TUI AG was also one of the world's largest shipping companies, having its logistics activities bundled within Hapag-Lloyd AG and concentrated on the shipping sector. Hapag-Lloyd is no longer an operating unit of the business however, a majority stake having been sold to the Albert Ballin consortium of investors in March 2009. TUI AG had 38.4 percent of the shares, but was expected to sell much of the Hapag stake to Ballin in February 2012, as it worked to exit from the shipping business and to optimize its tourism business with expansion in Russia, China and India.

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