Tui, the tour operator, said on Monday that rival Thomas Cook had withdrawn from discussions with Tui and Lufthansa, the German flag carrier, about a merger of their German airline operations.

Thomas Cook said Condor, its airline operation, was a strong and profitable business with significant potential on a standalone basis. “It became clear that the opportunity [to merge with Tui and Germanwings, a Lufthansa company] was not attractive, even though there would have been synergies arising from the merger,” it said.