REWE Group Parts with Its LTU Shares

Cologne, 08.06.06

Path now clear for the holiday airline to continue its strategic development


The Cologne-based REWE Group has parted with its minority share in LTU Luftransport-Unternehmen GmbH on June 1, 2006. The 40 per cent share was sold to INTRO Verwaltungs GmbH, Nuremberg, with its shareholder Hans Rudolf Wöhrl, which had already acquired the majority of shares in the Düsseldorf-based holiday airline on February 17, 2006.

The trading and tourism company REWE Group originally acquired a stake in LTU in 2001 to expand its tour operator portfolio together with the tour operators of the group (LTU Touristik). The company had repeatedly emphasised that its core business did not include running an airline. “With its new strategic partner, LTU now has an excellent opportunity to continue its market development. We will remain closely linked to the holiday airline through our tour operators as one of its main business partners”, said Norbert Fiebig, Management Board Member in charge of travel and tourism at REWE Group, in Cologne on Thursday, June 8.

With its turnover in the travel business of 4.2 billion euros, REWE Group is the number three on the German travel market. The travel and tourism division includes the tour operators ITS, Jahn Reisen, Tjaereborg, Dertour, Meier’s Weltreisen and ADAC Reisen as well as the DER and Atlas travel agencies and DER Business Travel.

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REWE GROUP-Corporate Communications
Tel.: 0221 - 149-1050
E-Mail: presse(at)rewe-group.com

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