Q3 2019 Tui AG Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to the TUI AG Conference Call Regarding the Full Year Third Quarter 2019 Results. (Operator Instructions) Let me now turn the floor over to your hosts, Mr. Friedrich Joussen and Ms. Birgit Conix.
So thank you very much, and good morning. A very warm welcome from rainy Hanover. I hope you are all well. And I'm very happy to guide you through the Q3 result as well as the strategy update, and Birgit is here to focus on numbers and financial performance as well.
So let me start with the presentation, with the brief strategic update, and maybe you turn to Page #4, which actually is a page highlighting our business. We have, as you know, a unique integrated business model with 2 major pillars, Markets & Airlines and Holiday Experiences. The Market & Airlines piece has the 21 million customers with leading market share of 20% to 40%. The average spend per customer is EUR 900, and that is important particularly when we focus on future
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