Flight Centre Travel Group (FCTG) has signed a preliminary agreement to acquire Mexico City-based Koch Overseas de Mexico, a corporate travel management business with a rich history in the country dating back to 1950. The deal is expected to be finalized by in the coming months, upon ratification by the FCTG board.
The combination will reaffirm Advantages position as the fourth largest rental car company in the United States and provide greater service and product options to the consumer in the $25 billion U.S. auto rental industry. Through a network of 85 locations, the combined company will capitalize on its presence in 22 of the top 25 U.S. airports and its collective resources to deliver more choice and better value to consumers.
Expedia, Inc. (NASDAQ: EXPE) announced yesterday that it has entered into an agreement with AirAsia Berhad to purchase an additional 25% equity interest of AAE Travel Pte. Ltd., the joint venture formed between the two companies in 2011, for cash consideration of $86.3 million. This investment will increase Expedia's total ownership in the joint venture to 75%.
Direct Travel, Inc. announced that it has acquired Child Travel | Albany Travel (Child Travel) of Burlington, Vermont and Albany, New York. This move marks the company's fourth acquisition this year, and comes just months following their announcement of the acquirement of Hurley Travel Experts of Portland, Maine.