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Flight Centre Mexico-bound with looming agency purchase

May 7, 2015 Corporate, Headline News No Comments Email Email

egtmedia59Flight Centre is boosting its North American presence by buying a corporate travel management business in Mexico.Australia’s largest and most profitable travel agency chain has signed a non-binding agreement to acquire Koch Overseas de Mexico, which employs 100 people in Mexico City, Monterrey, Puebla and Cancun.

Flight Centre has disclosed no acquisition price for the 65-year-old company but says a deal is likely to be completed in coming months.

The agent says the deal is still subject to due diligence and conditions.

Managing director Graham Turner says having a company-owned presence in Mexico is a natural extension of Flight Centre’s North American business.

Flight Centre Travel Group reported a net profit of AUD 100.31 million in the first half of the 2015 financial year.

Edited by William Sykes

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