Germany’s TUI Group buys Aeolos non-web operations

By Stelios Orphanides

German tour operator TUI Group agreed to buy the remaining 50 per cent of the “offline” activities of Aeolos Travel from the Limassol-based Francoudi & Stephanou Group for an undisclosed amount, an Aeolos director said.

Under the terms of the agreement which is subject to approval of Cyprus’s Commission for the Protection of Competition, Francoudi & Stephanou “will take full control of Aeolos Cyprus Travel Ltd, its existing online business and subsidiaries,” Sotos Stephanou, managing director at Aeolos Travel said. “TUI will take charge of the Cypriot leading travel firm’s offline activities, as part of its mainstream destination services model”.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.