London  - International travel group Tui Travel has acquired a share of 9.9 per cent in Germany's leading budget airline Air Berlin, Air Berlin said.

The deal is worth 33.5 million euros (50 million dollars).

The announcement of the share-based deal late Wednesday followed a major finance restructuring at Tui Travel, the world's largest travel group which owns tour operators Thomson and First Choice in Britain.

The group's headquarters are based in London. (dpa)