Airtours buys Sun World
Thursday 02 October 1997
Airtours already has a large business in Scandinavia. The planned takeover of Sun World would give Airtours around one-quarter of the market in Belgium, as well as a toehold in France and Holland. Airtours is also eyeing up the German market.
Harry Coe, Airtours deputy chief executive, said yesterday that further European acquisitions were on the cards. Airtours is also keen to grow in North America. However it will have to compete for acquisition targets with arch-rival Thomson which recently announced intentions to expand across Europe. Thomson is also believed to be keen to capture a large share of the German market.
Airtours is embroiled in a 10-month inquiry by the Monopolies and Mergers Commission into the links between travel agents and tour operators. The MMC, which has been investigating alleged anti-competitive practices, is due to pass its report to the Secretary of State in November. However a final decision is not due until early next year.
MMC concerns have focused on vertical links in the industry between tour operators and travel agents and the practice of tying together holiday insurance and discounts. Airtours said yesterday the most likely remedies from the MMC were rebranding tour operator-owned travel agents and untying of insurance and discounts. Mr Coe tried to play down the effects of such a move, claiming it would not be a big deal. However analysts believe that Thomson and Airtours are likely to be worst hit by such measures.
- 1 Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
- 2 Woman accidentally shoots herself in the head while posing for a selfie
- 3 Art Garfunkel calls Paul Simon a 'monster' with a Napoleon complex
- 4 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
Woman accidentally shoots herself in the head while posing for a selfie
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...