Flight Centre Travel Group (ASX:FLT) has signed a letter of intent with online travel booking company, Serko (ASX:SKO) to extend the existing partnership between the two companies.
The companies will negotiate the terms of their partnership across Australia, New Zealand and Asia through to 2022, as well as an increase in territory across North America.
Under the letter of intent, Serko is entitled to receive an ongoing development contribution from Flight Centre through to April next year.
The contribution will enable Flight Centre to launch a unique product based on Serko’s latest online travel management technology
Shares in Flight Centre Travel Group (ASX:FLT) closed 0.81 per cent higher to $67.32 yesterday.