February 13, 2018 / 7:26 AM / 4 days ago

TUI Group CEO says targeting around 50 pct ownership for plane fleet

BERLIN, Feb 13 (Reuters) - Travel group TUI wants to move more towards owning its planes, rather than leasing them, after it strengthened its balance sheet, the group’s CEO said on Tuesday.

“Fifty percent of our fleet in the long term will be in ownership and we will start owning planes again because our balance sheet is so strong we can finance our planes better,” Fritz Joussen said after the company reported first-quarter results.

TUI has 70 Boeing 737 Max planes on order, due to be delivered over the next five years. (Reporting by Victoria Bryan; Editing by Maria Sheahan)

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