TUI chairman Klaus Mangold told the Frankfurter Allgemeine Sonntagszeitung: “We are working on a sensible, profitable solution for the exit.”

The group, which has cruiseships, has long been looking to sell out of Hapag.

Another potential way out is through an IPO for the new combined company after it merged with Chile’s CSAV.

This could take place in the second half of 2015, according to Mangold.

“There