Hapag-Lloyd market was planned in 2004. As part of that process, its business units other than the container line and cruise line were planned for divestiture. In 2008 TUI announced an intention to sell its entire stake in Hapag-Lloyd shipping activities before the end of that year. Industry speculation predicted a sale price of approximately $US5.9 billion. Hapag-Lloyd founded the charter airline Hapag-Lloyd Flug in 1972, buying a few Boeing 727s to fly its cruise passengers from Germany to the cruises' ports of call. The airline eventually added some regular passenger flights as well. Hapag-Lloyd Flug used the IATA code HF
Aero Lloyd Paris in France, and Zurich in Switzerland with the newly acquired aircraft. However, by 1992, Aero Lloyd dropped scheduled operations after realising it was not a good move for the airline. The airline ceased operations at 06:00 local time on 16 October 2003 after shareholders refused to continue funding the airline. The collapse left 4,000 passengers stuck at German airports and 4,500 stuck overseas. Its assets were acquired by Aero Lloyd founder, Bogomir Gradisnik. Under the management of Gradisnik's associate, Miso Aksmanovic, the company was reshaped into a smaller charter operation named Aero Flight which was established in March 2004