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 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Ball pool for adults opens in London
- 4 Game of Thrones season 5 trailer: The first full-length look is here
Mia Khalifa: Pornhub star claims Drake sent her 'cringeworthy' naked photos on Instagram
Boris Johnson claims porn-obsessed Islamic jihadists are 'literally w*****s'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Putin opponent reveals Russian President's daughter's secret identity
Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...