The Flight Centre Group
(ASX:FLT) has boosted its presence in India by acquiring the Travel Tours Group in Bangalore.
Travel Tours is a local travel group with interests in foreign exchange, and leisure, corporate and wholesale travel.
Flight Centre says that Travel Tours made almost $150 million in total transaction value from its 18 stores.
The company also says, the total transaction value from its already-established Indian businesses is $419 million last financial year.
So after the acquisition of Travel Tours, India will become Flight Centre’s sixth largest country by sales – behind Australia, the United States, the UK, Canada and New Zealand.
Flight Centre reported a net profit of $244.6 million at 30 June 2016.
