Flight Centre is aiming to more than double its business in India over the next five years as the market continues to strengthen.
The company, which entered the Indian market in 2005, has seen steady growth from the emerging market over the last decade and isn’t expecting business to slow down anytime soon.
In fact, Executive General Manager, Asia and Global Corporate, Rob Flint, said he sees the market a ‘long-term business’ for the company, The Economic Times reported.
“We expect a high double digit growth from this market over the next five years.”
Rob Flint, Flight Centre Executive General Manager, Asia and Global Corporate
Flight Centre currently operates FCm Travel Solutions in India along with Flight Shop. It has 12 stores around the country and plans to open around 10 more by the end of 2016.
The company’s annual report showed that total transaction value in India climbed 15 percent last financial year compared to the prior year to $386 million. Earnings before tax and interest climbed to $3.5 million, making it the company’s seventh most profitable business.
Aside from its planned expansion in India, Flight Centre revealed last month its decision to move into Malaysia with the 40 percent acquisition of Worldwide Aviation Services – a small Kuala Lumpur-based corporate travel business.
Worldwide Aviation Services (WAS), which employs six people and currently generates about AU$250,000 in annual revenue, will become part of the FCm Travel Solutions corporate travel management network that FLT created in 2004.
