Flight Centre is not seeking to buy helloworld, but it’s in talks to buy five other travel companies.
That’s not to suggest helloworld is for sale. The Australian asked the question of Flight Centre managing director Graham Turner, pointing out that Flight Centre bought international travel specialist Top Deck last year as well as a corporate travel group in Mexico earlier this year.
Turner said Flight Centre had “thought about looking at Helloworld and decided against it”, adding that he didn’t think Flight Centre’s Qantas-backed rival “falls into our portfolio”.
“It would have been a bit of a distraction, but we are looking at others that are smaller and more strategic for us,” he told the paper.
Flight Centre confirmed that it is in negotiations to buy five separate travel groups in Australia and internationally.
Turner said the acquisitions could cost as much as AUD 50 million and he suggested two or three of the deals would come to fruition next year.
Written by Peter Needham