Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Tui boss to step down in new ‘growth path’ for travel firm

The chief executive of travel giant Tui is stepping down after 10 years at the helm, having led the group through the pandemic (PA)
The chief executive of travel giant Tui is stepping down after 10 years at the helm, having led the group through the pandemic (PA)

The chief executive of travel giant Tui is stepping down after almost 10 years at the helm, having led the group through the pandemic.

Fritz Joussen will leave the German holiday giant at the end of September, when he will be replaced by the company’s chief financial officer, Sebastian Ebel.

Mr Joussen – who took on the role in 2013 – said Tui’s survival was seriously threatened when the pandemic hit in March 2020 but added that bosses rescued the firm, and the new chief executive can lead it back to growth.

Brexit
Tui boss Fritz Joussen has led the group for almost 10 years (Christian Wyrwa/Tui/PA)

The travel firm recently repaid some of the Covid support cash given by the German state shortly after the global shutdown.

It received three separate stabilisation packages totalling almost five billion euro (£4.2 billion) to keep it afloat amid travel restrictions and falling demand for holidays.

But Tui was forced to apologise to customers earlier this month after delays and cancellations to flights disrupted holiday-goers over the May half term and left families stranded at airports.

Airlines have struggled to cope with rising demand for flights coupled with severe staffing shortages leading to several months of disruption for travellers.

Tui Airways cancelled nearly 200 flights from Manchester Airport in June.

The firm was also embroiled in the fallout of the Ukraine war, with Russian oligarch Alexei Mordashov forced to resign from its supervisory board after being hit by EU sanctions.

Tui claimed on Friday it has successfully weathered the Covid storm and its new boss will usher it into a new chapter of success.

Mr Joussen said: “When the pandemic in spring 2020 turned us into a company without a business virtually overnight, all our attention was focused on one goal: rescuing Tui.

“The immediate crisis management, which was about ensuring the group’s continued survival, has now been completed.

“Under new management, Tui is now starting the next chapter: a return to profitable growth – of course coupled with tasks from the crisis: reducing debt, strengthening the balance sheet and the further transformation of Tui.

“Sebastian Ebel will lead TUI back onto the growth path,” he added.

Dieter Zetsche, chairman of Tui’s advisory board, added: “Sebastian Ebel is an excellent choice for the new start after the Corona crisis.”