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TUI Creates Charter Carrier

TUI Russia, Alexei Mordashov's tour operator, is forming a venture with Kolavia Airline to create a charter carrier to  destinations including Turkey, Egypt and Spain, the company said.

The new company, Metrojet, will use four Airbus 321 planes owned by Kolavia from May 1 and plans to rebrand them as TUI, Vedomosti reported Thursday, without citing anyone.

TUI Russia is a joint venture between Germany's TUI, where Mordashov has a 25 percent stake, and the billionaire's Russian unit S-Group Capital Management.

(Bloomberg)

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