Thomas Cook, the tour operator, is in discussions with rival Tui Travel and the airline Lufthansa about a possible merger of their respective low-cost and charter carriers, a move that would create a new rival for Ryanair, EasyJet and Air Berlin.

In the latest example of how record fuel costs are forcing a restructuring of Europe’s aviation industry, the three German-controlled companies said they were in talks about joining Condor, Tuifly and Germanwings.