HANOVER (dpa-AFX) - TUI AG (TUIFF.PK), a British-German leisure, travel, and tourism company, said on Thursday that it has terminated 'TUI' brand license agreement with TUI Russia.
As a result, the Russian firm can't use the brand name in countries including Russia, Ukraine, Belarus, Kazakhstan, and Uzbekistan.
The Hanover-headquartered firm also clarified that TUI Russia is no longer a company of the TUI Group. Hanover Group had sold its stake in TUI Russia in 2021.
TUI Group's move has come in response to the ongoing Russian invasion in Ukraine.
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