From Australia to the US to Asia, Europe and NOW India. Those guys over at the Flight Centre Travel Group (FLT) are really getting around.
The company today announced the acquisition of Travel Tours Group, a Bengaluru-based travel group which made around AU$150 million in total transaction value (TTV) during the 2015/16 financial year.
According to FLT, the family-owned business deals with foreign exchange, MICE, leisure, corporate and wholesale in around 18 locations.
With the acquisition, Travel Tours Group’s financial results will be combined with FLT’s established India-based business and will surpass current results in South Africa, making India the group’s sixth largest country by sales behind Australia, the USA, the UK, Canada and New Zealand.
According to FLT’s Managing Director, Graham Turner, the purchase will make the group a more significant player in the emerging India market.
“This will enhance FLT’s scale in sectors where it already has a strong or emerging presence.”
Graham Turner, Flight Centre Travel Group Managing Director
“Including corporate travel, FX and MICE, and give the company a stronger platform for growth in key leisure sectors.
“TTG has a strong leisure travel presence in the key South India markets of Bangaluru and Chennai, which will complement FLT’s Flight Shops offering in the country’s north and west.”
Additionally, Graham said the purchase will give FLT access to “superior leisure products” that are tailed for the Indian market.
