TUI Travel will focus on four areas:
*Content - mainstream package holidays, including long haul, a specialist portfolio of niche businesses and a significant bed adn flight bank accessed vai the internet.
*Distribution - the new group will "maximise interent sales and content" while building dtrong brand awareness and loyality through its portfolio of large consumer brands.
*Cost competitiveness - it will introduce a flexible leasing structure to its European aircraft fleet, "leveraging the low overheads in the specialist portfolio".
*Acquisition - group will continue to invest in small to medium-sized bolt-on acquisitions within specialist segments in order to build leadership positions in higer margin niche areas.
Current TUI Northern chief financial officer Will Waggott will become group commerial director of the new company while Hapag-Lloyd Flug chairman Christoph Mueller will become aviation director. First Choice group finance director Paul Bowtell will be chief financial officer.