Subscribe


Travel Daily

TD breaking news – Webjet sells Zuji Hong Kong and Singapore

$56 million deal represents a significant profit for Webjet. 

Webjet has just announced the sale of its Zuji businesses in Hong Kong and Singapore to subsidiaries of Hong Kong-based travel technology group Uriel Aviation Holding Limited.

The company will receive a total of $56 million, representing a $26 million gain on its $30 million purchase price in March 2013.

Webjet ceo John Gucsic said since the acquisition the company had taken out more than $5 million in annual costs and turned the businesses into “profitable operations in a competitive market.

“We remain committed to expanding our presence in Asia through B2B hotels and are delighted to announce that we will be launching FIT Ruums later this month. FIT Ruums is a new start-up which extends our B2B division across key Asian markets,” Gucsic said.

The company also announced EBITDA guidance for the 2017 financial year of $78 million, including $60 million for its ongoing businesses and the $26 million gain on the sale of Zuji. The result will be impacted by a one-off $5 million cost associated with an “accounting policy change due to a shift in supplier contracting arrangements for Webjet Exclusives” and a $3 million investment in the establishment of FIT Ruums.

More details in today’s issue of Travel Daily.


The above Breaking News Alert was sent to Travel Daily subscribers on 09 Nov 16

Make a comment...



Established in 1994, Travel Daily is Australia's leading travel industry publication, and is sent as a paid subscription to people across the industry as a PDF newsletter every weekday.

Register for Travel Daily trial subscription

To sign up for a free 14-day trial, click on the button at right.

Click here to see a sample issue of Travel Daily.

Click here for more information on subscriptions.

Alternatively, you can search our site or find other content below.

Recent Travel Daily articles

24 Jul

Brochures 24 Jul 17 - THIS week's Brochures of the Week is ...


24 Jul

Window Seat 24 Jul 17 - SWEDISH rail operator MTR Express has announced ...


24 Jul

TIME’s Awesome Foursome - TAKING charge of your career path and ...


24 Jul

Spencer’s Diamond Club shine - SPENCER Travel Group of Companies last week ...


24 Jul

William Inglis MGallery hotel - AN MGallery by Sofitel branded hotel will ...


24 Jul

2017 NTIA goes off with a bang - THE travel industry pulled out all stops ...


24 Jul

Skal underground opera - SKALLEAGUES and their friends were recently treated ...


24 Jul

AA FULL PAGE - ...


24 Jul

Jetsurf Vanuatu - HOLIDAY Inn Resort Vanuatu is introducing a ...


24 Jul

Whitsunday Wotif/Expedia campaign - TOURISM Whitsundays has announced a 12-month online ...


24 Jul

Schwartz goodwill - SOFITEL Sydney Darling Harbour has revealed a ...


24 Jul

A380 to Colombo - EMIRATES will deploy one of its Airbus ...


24 Jul

Cebu Sydney sale - CEBU Pacific has announced a sale to ...


24 Jul

Six Senses Austria - SIX Senses Hotels Resorts Spas will open ...


24 Jul

Hertz free upgrade - HERTZ'S loyalty program Gold Plus Rewards is ...


24 Jul

Swissotel into UAE - ACCORHOTELS has confirmed its debut of the ...


24 Jul

Viking incentive - VIKING Cruises is offering agents the chance ...


24 Jul

APT global gong - APT'S member magazine, Voyage, was listed as ...


24 Jul

AA under DOT fire - AMERICAN Airlines has been fined US$250,000 after ...


24 Jul

DL LGA refit nod - THE Port Authority of New York and ...



Show Travel Daily items by month: