TD breaking news – Flight Centre buys Indian travel group
FC diversifies operations in India.
Flight Centre has just announced an agreement to acquire Bangalore-based Travel Tours Group, with md Graham Turner saying the move will make the company a “more significant player in the emerging India travel market”.
Travel Tours Group has 18 locations and last year generated almost A$150 million in TTV. That will complement FLT’s established businesses in India which turned over A$419 million, 70% of which came from the large FCM corporate business.
Turner said the new acquisition would enhance Flight Centre’s Indian scale in corporate travel, foreign exchange and MICE, as well as giving the company a “stronger platform for growth in key leisure sectors”.
More details in today’s issue of Travel Daily.
The above Breaking News Alert was sent to Travel Daily subscribers on 06 Oct 16
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