Latest News
HomeAviationQantas acquires remaining stake in TripADeal for $140.6 million
Aviation

Qantas acquires remaining stake in TripADeal for $140.6 million

Qantas

Qantas buys the remaining 49% of TripADeal for $140.6M, aiming to boost holiday bookings and synergies with Jetstar.

Australia‘s Qantas Airways announced its decision to acquire the remaining 49% stake in the online travel business TripADeal for A$211 million ($140.6 million). This move is part of Qantas’ strategy to capitalize on the strong demand for holiday bookings, which has surged following the easing of travel restrictions post-pandemic.

The acquisition is expected to be completed by the end of June 2024. This strategic investment will enable Qantas to deepen synergies by integrating its network, along with that of its partner airline Jetstar, with TripADeal’s growing curated tour market.

Qantas originally acquired a majority stake in TripADeal in 2022. With the completion of this acquisition, Qantas anticipates realizing combined cost and revenue synergies of at least A$50 million annually across the group. Despite the full acquisition, TripADeal will continue to operate as an independent business, maintaining its relationships with a variety of travel partners and airlines.

TripADeal specializes in offering curated tour packages, a sector that has seen increased interest as travelers seek unique and comprehensive travel experiences. By fully integrating TripADeal, Qantas aims to offer a broader range of travel options to its customers, enhancing the overall travel experience and tapping into the lucrative market of organized tours.

The airline’s decision to fully acquire TripADeal reflects its broader strategic goals of expansion and digital transformation in response to evolving market conditions and consumer preferences. This move is expected to not only drive revenue growth but also enhance operational efficiencies across Qantas’ extensive network.

George Diamantopoulos
 | Website

George, in his capacity as an intern, diligently oversees the flow of news, assists in the publication of content, and delves into the strategies of social media distribution. He is currently pursuing his studies in Business Administration at the Athens University of Economics and Business.

Tags
18/07/2024
17/07/2024
16/07/2024
15/07/2024
12/07/2024
11/07/2024