Qantas to fully acquire online travel agent TripADeal
Qantas will take full ownership of online travel business TripADeal by acquiring its remaining 49 per cent stake for $211 million.
The Australian flag carrier expects the acquisition to be completed by the end of this month and will result in at least $50 million of combined cost and revenues annually for the group.
“TripADeal has been building on-trend and well-priced holiday packages for over a decade and has delighted millions of holidaymakers in the process. This success has only been turbocharged by the Qantas partnership, and the opportunity for our members to earn and use their points,” said Andrew Glance, Qantas Loyalty CEO.
“With TripADeal bookings growing at 70 per cent over the last year, and more opportunities to strengthen the offering and realise further synergies, this deal is great news for our customers and the Loyalty business more broadly.”
Qantas first acquired a majority stake in TripADeal in 2022, enabling the airline’s frequent flyers to earn and use their Qantas points on the tour packages.
Over the last 12 months, TripADeal’s bookings surpassed $450 million, doubling pre-Covid levels. Recently, the online travel agent added cruises to its platform.
TripADeal founders Norm Black and Richard Johnston will depart the business following the acquisition. Matthew Wolfenden, TripADeal’s current COO, will be promoted to CEO.
TripADeal will continue to operate as an independent business and work with various travel partners and airlines including Qantas and Jetstar.
Following the acquisition, Qantas Loyalty anticipates underlying earnings before interest and tax (EBIT) of $500 to $525 million for the year, before returning to growth of at least 10 per cent in underlying EBIT next year.
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