TUI AG CEO says all options open for Hapag-Lloyd cruise business

FRANKFURT Thu Aug 8, 2013 5:07am EDT

FRANKFURT Aug 8 (Reuters) - All options are open for TUI AG's Hapag-Lloyd cruises business, which is currently being restructured, the group's chief executive said.

TUI AG is confident that it can return Hapag-Lloyd Kreuzfahrten to profit by its 2014/15 financial year, but needs to review the unit's strategic fit, Friedrich Joussen told analysts during a conference call on Thursday, after the group published quarterly financial results.

He also said TUI AG still wanted to exit its stake in container shipping firm Hapag-Lloyd, which is unrelated to the cruises business, via a sale or initial public offering once the market environment was favourable.

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