Flight Centre’s global expansion continues – it has moved into continental Europe for the first time, acquiring a Netherlands-based corporate travel agency.
The group has bought small privately-owned corporate travel agency Business Travel Development (BTD).
BTD had a turnover of EUR 10.3 million (AUD 15.2 million) in financial year 2015, Flight Centre said. Flight Centre reported worldwide turnover of AUD 5.9 billion in the year ended 30 June 2015, the Sydney Morning Herald reported.
Flight Centre did not disclose the price of its BTD acquisition.
Managing director Graham Turner described BTD as “a profitable business that we know well”, pointing out that it operated in one of the world’s largest corporate travel markets. A company-owned presence in the Netherlands provided Flight Centre with a platform for further growth in that country and in Europe more generally, he said.
Future opportunities include the launch of a dedicated SME offering to complement the FCM business and possibly a leisure travel offering in the longer term.
Flight Centre entered the UK market in 1995 and moved into Ireland (by acquisition) in 2014. More recent moves have seen it enter Mexico and Malaysia.
Written by Peter Needham