Flight Centre Travel Group has further boosted its presence in the online travel sector, securing a 70% interest in the BYOjet.com business, an emerging online travel agency specialising in low cost airfares.
Turning over $100 million a year, its airfare range includes flights offered by schedules carriers and fares sources from various low cost carriers directly, via API connections.
In addition to selling airfares and other travel products via BYOjet.com, the acquired business generates additional revenue by offering its JETMAX booking system as a white label technology product.
Flight centre will look to give the business access to its vast array of privately negotiated airfares, increase sales of other products such as hotels and insurance and launch the business in new markets, raising its profile.
This investment comes just days after making a US$28 million offer to acquire US based youth and student travel specialist StudentUniverse.com.
