Thus, the partnership of EAG and TUI together with Etihad Aviation Group which is already in the stock market will transfer this new impetus for the aviation market.
TUI, being the tourism and aviation leader as it is, does not miss the opportunity to prove that it worthy possesses this World title.
This is because it proceeds in the creation of a new air company which, starting in April 2017, will commence having as its dowry a fleet of 60 aircrafts, possibly bi-typical, to fly the European sky.
Thus, the partnership of EAG and TUI together with Etihad Aviation Group which is already in the stock market will transfer this new impetus for the aviation market.
TUI will contribute 14 aircrafts in this partnership and will hold 24,8% of the new company structure.
Etihad will hold 25% and the powerful in business and capital private institution NIKH private stiffung will hold the anticipated majority of 50,2%.
The seat of the new company has been established in Vienna, Austria Main destinations initially will be Germany and several of its cities, Austria, Switzerland as well as Greece and Spain.
The detailed schedule for the cities of each of the abovementioned countries is currently under construction by the company. In all probabilities low cost and tarrif cities will be chosen. This will happen in order for the new company to set the prerequisites of a quick and effective profit.
The endevour has an LCC air carrier "taste".
We believe, based on our long lasting experience in the aviation field, that it will be hard for our predictions to fail. Time will tell since passengers as well will profit largely from the cost of the ticket and the safety of their air travel, because TUI and its current collaborators are distinguished for their quality of the fleet they always use.
Emmanuel A. Gyzis is managing partner of Emmanuel A. Gyzis & Associates Law Offices.
He was born in Athens, Greece, 13 January 1947; admitted to Athens Bar Association 1974. Education: University of Athens, Law School (1972), London, (L.LM. 1980), specialized in Aviation Law and originally worked in the respective field on behalf of British Tour Operators and Charter companies.
With longstanding journalistic and writing activity, his articles have been published in financial newspapers and magazines specialized in Aviation and Tourism. Author of pioneering monographs on the development issues of Olympic Airways (1989), he has published during a course of many years, a series of articles regarding its viability, its position in the international environment, as well as for other private airlines in general, while at the same time he participated in relevant International and Greek Conferences and Organizations. Successful and long-term engagement with issues regarding private airports / heliports, Low Cost Carriers (LCC), Aircraft Fractional Ownership, Ground handling matters. At his law firm “EMM. GYZIS AND ASSOCIATES”, together with a group of specialized associates he deals mainly with aviation law issues (cooperation with construction companies for commercial aircraft and leasing companies) and tourism law issues, specializing in mass tourism from/ to Greece and occasionally cooperating with Tour Operators. Since 1993, he has founded a number of Greek and foreign airline companies, on behalf of his clients, in accordance with the applicable legal status. He has participated in committees for the drafting of legislation regarding air transport, such as private airports, the Presidential Decree for private heliports and the Basic Legislation of the Aviation Code and he is the General Secretary of the Hellenic Aviation Society. For many years, he has been studying emerging markets, as a consultant for foreign companies, which plan to invest worldwide.
LANGUAGES: English.
MEMBER: Athens Bar Association, International Bar Association, European Society of International Law (ESIL), American Society of International Law (ASIL), British-Hellenic Chamber of Commerce, Greek-American Union, Hellenic Aviation Society.
PRACTICE AREAS: Aviation Law, Aerospace Law, Tourism and Transport Law, (European) Commercial and Company Law. Arbitration. Establishment and Operation of foreign companies in Greece. Project Finance. Free Movement of Capital. Privatization. Foreign/ Hotel Investments. Mergers and Acquisitions.
