The world's largest travel group TUI is once again a German company, listed on the Frankfurt stock market.
"Frankfurt is our stock exchange again as of today," Group CEO Sebastian Ebel said on Monday.
The company was listed in London for almost 10 years. The initial share price was €7.73. The shares will still be listed in London until June, when trading there will be discontinued. Only 22% of share trading still took place in London in 2023.
The Group expects cost savings from concentrating on Frankfurt and higher demand for its shares and thus rising share prices as a result of its inclusion in the MDAX, the German index for medium-sized companies, which it hopes to rejoin on June 24.
The move should also help the Group to secure the conditions for air traffic rights in the EU in the future. The EU requires that airlines such as the group's TUIfly, which operates within the EU, to be majority-owned and controlled by owners from the EU. This will be easier to ensure with a head office in Frankfurt, the company says.