TUI to Launch Travel Company in Russia

TUI Travel and S-Group Capital Management, Cyprus have signed a memorandum of understanding to create a joint venture serving the leisure travel market in Russia and the Commonwealth of Independent States.

“I am very excited by the huge growth potential of the Russian and CIS tourism markets, and I am delighted to join forces with such a substantial organization as S-Group to develop our presence in the region,” said Peter Long, CEO of TUI Travel.