Tourism has rebounded, Australia's Qantas bought a majority stake in TripADeal
$Qantas Airways Ltd(QAN.AU$ said on Tuesday it would buy a 51% stake in online travel agency TripADeal for an undisclosed amount.
The deal includes a provision for Qantas to take full control of TripADeal in four years and is expected to add to the national flag carrier's earnings goals for full-year 2024.
Earlier this month, Qantas announced its decision to buy the remaining stake in $Alliance Aviation Services Ltd(AQZ.AU$ for A$610.8 million to expand its presence in the charter business.
TripADeal is an innovative online travel company founded in 2011 by two co-founders, Norm Black and Richard Johnston, specializing in tours with fixed itineraries, including airfare, hotel accommodations, and tours.
Previously, TripADeal's revenue grew at over 40% annually, with payments over A$200 million.
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