Preussag increases holding in Belgian subsidiary to 100 per cent

Press Release
April 5, 2001
The Preussag Group increases its stake in TUI Belgium Holding from 50 per cent to 100 per cent retrospectively from 1 January 2001. TUI Belgium holding owns the tour operator Jet Air N.V., the distribution and tour operator brand VTB VAB Reizen, and TUI Travel Centre Belgium International Travel N.V. Completion of the acquisition is still subject to receiving consent from the responsible competition authority.

On reaching the age of 70, Gérard Brackx, JetAir founder and managing director of TUI Belgium for many years, announced that he will step down from the management board.

Annemie Brackx was appointed as chairwoman of the TUI Belgium management board.

Bart Brackx will be the new chairman of JetAir.

The management board will be strengthened by Luc Wellens who continues to be responsiblefor the distribution companies.