AMSTERDAM – Gunay Uslu is stepping down as Chief Executive Officer of Corendon as the Dutch travel company prepares to reorganize its operations into separate divisions for its tour operator and airline businesses. The restructuring also affects a company with significant tourism interests in Curaçao, where Corendon operates hotels and provides direct flights from Amsterdam.
According to Dutch newspaper De Telegraaf, the restructuring is intended to give Corendon's different business operations greater independence and flexibility in an increasingly competitive travel market.
Corendon Airlines
Uslu explained that the decision reflects major changes in the holiday industry over recent years.
By separating the tour operator from the Dutch airline, both businesses will be able to operate more independently and pursue their own commercial opportunities.
The company will appoint two new chief executives: one to lead the tour operator division and another to oversee the airline.
Uslu will relinquish responsibility for daily operations but will remain involved with Corendon as a group adviser.
In her new position, she will serve as a link between the company's three main business areas: the tour operator, the airline, and the hotel division.
Restructuring Not Intended as Preparation for Sale
According to Uslu, the decision to separate the company's activities is not part of a plan to sell Corendon.
Instead, the restructuring is designed to allow each division to focus more directly on its own market conditions, commercial opportunities, and operational requirements.
The airline and tour operator operate in different business environments, with separate financial considerations and competitive pressures.
By giving each business its own leadership, Corendon expects to improve its ability to respond to developments in the travel industry.
The hotel division will remain an important part of the group's overall activities.
Uslu's new advisory role is intended to maintain coordination among the three business areas following the leadership changes.
Corendon Has Significant Operations in Curaçao
The restructuring is particularly relevant to Curaçao because of Corendon's investments in the island's tourism industry.
Since November 2023, Corendon has operated direct flights between Amsterdam Schiphol Airport and Curaçao using its own aircraft.
The route provides an additional connection between the Netherlands and Curaçao, supporting the island's tourism industry and offering travelers another option for direct air service.
Corendon also operates the Mangrove Beach all-inclusive resort in Curaçao, making the company an important participant in the island's hospitality sector.
Its combination of airline services, holiday packages, and hotel accommodations allows Corendon to offer travelers integrated vacation products.
The company's presence contributes to tourism activity on the island, including hotel stays, airport passenger traffic, and spending associated with international visitors.
The announced restructuring does not include any indication that Corendon intends to discontinue its Curaçao flights or withdraw from its hotel operations on the island.
However, the creation of separate airline and tour operator divisions means that future commercial decisions concerning routes and vacation packages will fall under the leadership of the newly appointed executives.
Former Dutch Government Official
Before joining Corendon, Uslu served as State Secretary for Culture and Media in the Dutch government.
Her transition from politics to the travel industry attracted attention in the Netherlands, particularly because of her family's longstanding involvement in Corendon.
As CEO, she oversaw the company during a period of significant developments in the international travel industry.
Her departure from the chief executive position marks another organizational change for the travel group as it adjusts its structure to changing market conditions.
Corendon has not yet announced who will be appointed to the two new CEO positions.
For Curaçao, the restructuring will be worth monitoring because of the company's role in the island's tourism industry, particularly its direct air connection with the Netherlands and its hotel investments.
For now, the changes concern Corendon's management and organizational structure, with no announced changes to its existing operations in Curaçao.
Source: De Telegraaf, as reported in Dutch media.