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Flight enters India through acquisition of Friends Globe
Prudence Lui, Hong Kong
 

Prudence Lui, Hong Kong  
(17th Feb 2005)


AUSTRALIAN Flight Centre has taken a majority holding in Friends Globe Travels Ltd (FGTL), India's largest nationally-owned corporate travel business.

This further strengthens the group's FCm Travel Solutions global network. It is now operating in Australia, New Zealand, Hong Kong, India, China (joint venture) and Singapore (licensing agreement).

Flight Centre will acquire a 51 per cent stake in FGTL in April and later plans to buy the remainder of the company from managing director Mr Rahul Nath. Mr Nath and his leadership team will continue to run the business in India.

FGTL was formed in 1987 and currently has branches in Delhi, Chennai, Mumbai, Gurgaon, Hyderabad and Bangalore. The business will this month expand into Kolkata, Ahmedabad, Pune and Baroda. Management plans to operate from 20 locations by the end of 2006.

 
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