Flight Center Travel Group has slammed “M&A media speculation” that it is ready to buy US travel management company Altour.
“Flight Center Travel Group (FLT or the Company) is aware of media speculation in the Australian newspaper alleging that FLT is considering the possible acquisition of a corporate travel business in the US,” it said in a statement to the Australian Securities Exchange. on August 30. .
“While it is the company’s policy not to respond to media speculation, the company has had and continues to have various discussions with a variety of parties regarding strategic opportunities.”
Last week the group boasted that its FCM Travel division was the only global alternative to legacy travel management companies. However, the intention to consider acquisition opportunities to supplement organic growth was outlined in the company’s latest results, where it reported a loss of $127 million for 2022.
A US division would make sense to expand its footprint. Australia’s Corporate Travel Management, for example, said it reaped the benefits of its US acquisition, Travel and Transport, in its latest results which saw it record a full-year profit of $41.4 million .
Altour is part of Internova Travel Group, which is owned by Certares, which is also an investor in American Express Global Business Travel, through an investor group he leads. Amex GBT was listed on the New York Stock Exchange in May this year.
Skift reached out to Internova for comment.
