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Flight Centre looks to buy five firms, but not helloworld

September 24, 2015 Business News, Headline News 2 Comments Email Email

egtmedia59Flight 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

Currently there are "2 comments" on this Article:

  1. Mike C says:

    more aggregation of market power eventually leads to less competition …..

  2. Andris says:

    Agree with Mike C consolidation and contraction in industry participant numbers reduces competition . Combine that with the abolition of the Travel Compensation Fund and the recent survey report that 39% of TA’s have reported a contraction of business since July 14 , this should be a wake up call for industry players to actively work to have the TCF restored immediately .

    The presumption is that part or all that decline in business by mum and dad operators has shifted to perceived save haven larger corporate TA’s . If these trends gather pace we could end up combined with further digital disruption with a industry of largely medium to large operators with the single site/operator heading to endangered species status

    A call to arms by the industry rank and file mum and dad business’s to re instate the TCF immediately to help those business’s not only to meet the challenges of a changing market place and retain a level playing field within the industry is a must if they want to remain viable as business’s

    Mum and dad industry participants need to act now to re instate the TCF for future business viability or see there financial adviser to plan a orderly exit from the industry . A planned exit is preferable to insolvency and and the personal disruption associated with business failure resulting from adverse government policy which destroyed a market place that was operating as a level playing field with strong consumer protection provisions , that were equitable for all stakeholders .

    The TCF funding should not be a issue , the money is consumer money and any cost to TA’s to comply are marginal when compared to insolvency and starting again from scratch in another industry or re entering the job market

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