Flight Centre completes European acquisition
Flight Centre has today announced it has completed the acquisition of corporate travel businesses in Germany, Sweden, Finland, Norway and Denmark.
The travel retail group said the combined turnover from the businesses would be about 110 million Euros during the 2017 financial year.
“The European corporate acquisitions will strengthen our global offering in a sector that now generates about one third of the company’s total sales,” Flight Centre’s managing director, Graham Turner, said.
“We are already one of the world’s largest corporate travel managers – our corporate turnover exceeded $6 billion during the 2016 fiscal year – but we see strong future prospects within the sector and are expanding internationally both organically and via strategic acquisitions.”
Turner said the company will also introduce new revenue streams as part of the takeover of the businesses, including the SME-focussed Corporate Traveller brand that will operate alongside its FCM brand.
As part of the acquisition, Flight Centre has also secured a proprietary online booking tool.
This story first appeared on our sister site, Inside Retail Australia.