The brand license agreement allowed Tui Russia to use the Tui brand in multiple countries, including Ukraine
Tui AG has terminated its brand use agreement with Tui Russia in the wake of the invasion of Ukraine.
The brand license agreement allowed Tui Russia to use the Tui brand in various countries, including Russia, Ukraine, Belarus, Kazakhstan and Uzbekistan.
Chief executive Fritz Joussen said: “Tui condemns Russia’s attack and war against Ukraine. Our position is clear. The Tui brand must no longer be used by Tui Russia for its business and the company’s presence.”
Tui Russia is not a part of the Tui Group, Europe’s largest travel company, with the last shares in Tui Russia sold by the Hanover Group in 2021.
The action follows a second Russian member of the Tui Group supervisory board, Vladimir Lukin, resigning following Russia’s invasion of Ukraine.
Alexei Mordashov, Tui’s largest shareholder, earlier stood down from the board after being identified as one of a number of Russian oligarchs subject to EU sanctions because of their links to the Russian president.