TUI stock: CEO rejects Air Berlin comeback and urges tax relief

TUI stock traded at 7.70 euros on Lang & Schwarz at 11:50 CET on Wednesday, November 11, 2026, 0.65 percent below the Xetra close of Tuesday, November 10, 2026. The move followed fresh attention on Chief Executive Sebastian Ebel's views on German aviation policy and airline competition.

In a report published by Berliner Morgenpost on Saturday, November 7, Ebel said rebuilding an airline in Germany's current competitive environment was economically almost impossible, apart from a niche operator. His comments came nearly a decade after Air Berlin filed for insolvency.

Tax burden shapes airline competition

Ebel argued that Germany's comparatively high taxes and charges are making it harder for airlines based in the country to compete. He said companies respond by withdrawing capacity, while passengers may book elsewhere or travel through foreign hubs such as Paris or Madrid.

TUI operates its own airline through TUI fly, so the issue is relevant to the group's aviation exposure as well as to the wider travel market. Ebel said the problem was not simply whether Germany had a second or third major carrier, but whether the country offered a competitive overall aviation proposition.

As a specific policy option, Ebel proposed exempting children from the air transport tax. In his view, that would support families without removing the levy altogether. For investors, the comments highlight a structural issue rather than a new earnings target: operating conditions, route economics and regulatory costs can influence the resilience of TUI's airline business.

Implications for TUI investors

The remarks do not change TUI's published financial guidance in the source report. They instead frame aviation policy as a potential long-term factor for capacity, customer routing and the competitive position of German-based carriers. Any financial effect would depend on government action and on how airlines adjust their networks.

The wider German equity market remains the backdrop for TUI stock investors; see Current market reports.

Further company-specific developments are collected under More news and analyses on TUI stock.