p5 oct3 1/10/08 21:27 Page 5
ttglive.com
news
In brief
■ London City stake to be sold by AIG
Troubled American insurer AIG is selling its stake
in London City airport to the Global Infrastructure
Partners (GIP) investment fund. The fund, which
already owned half the airport, has reached
“definitive” agreement to buy the other 50%. AIG
is seeking to repay an $85 billion government loan.
■ Whiteman to leave Travel 2
Travel 2 managing director Maria Whiteman is to
leave the company. The news comes as the Stella
Travel Services-owned long-haul operator is be-
lieved to be restructuring its management team.
Whiteman said that as Stella had grown, her job
was different to the one she originally took on.
■ Kuoni makes two acquisitions
Kuoni made two acquisitions last week. It bought
Cheshire-based luxury operator Carrier, together
with its travel agency Carrier International, in a FRAGGLE AID: The Family Holiday Association has employed
deal which will retain the present management Fraggles to help its bid to raise £10,000 at next week’s Travel
team, staff and brand. Kuoni also said it was Convention. The charity will take 1,000 Fraggles Rock cuddly
acquiring Melbourne-based Australian Tours toys to Spain, thanks to sponsorship from Arnold Fisher
Management (ATM), a specialist in leisure and Insurance Services. Delegates can get one for a £10 donation.
incentive travel arrangements in Australia.
■ Travel Counsellors starts recruitment shows
Travel Counsellors is hitting the road this month
to show agents what the company could do for
Youtravel posts first
them and how they could benefit from running
their own business. The roadshow will be visiting
major cities in England, Northern Ireland and
Scotland. A special Travel Counsellors TV
year loss of £900,000
recruitment broadcast will be made on October
14 and the firm has also launched a new-look
Chris Gray.
Turnover was £1.04 million and the total
recruitment website. YOUTRAVEL.COM managing director John Kent value of transactions was £32.2 million. The
has claimed the bed bank will be in the black this company had net liabilities of £857,000.
■ Monarch boosts Christmas flights year despite posting a £900,000 loss in its first Kent said the loss was the result of the costs
Monarch has added 64 flights and 12,000 seats year of operations. of setting up the business, when it was employ-
to its Christmas flying programme in response Kent was speaking as Youtravel announced it ing 50 people but money was not yet coming in.
to what it said was “phenomenal demand”. had sold call centre agency Qwerty Travel to its Bed bank margins are said to be under pres-
The flights will operate from December 20 to founder and managing director, Matt Somers, for sure but Kent said there had been a “substantial”
January 4 from Gatwick, Luton, Birmingham an undisclosed sum. increase in turnover and the company was on
and Manchester to Lanzarote, Malaga, Tenerife, Qwerty was bought by Youtravel when it set up course to make a profit.
Larnaca and Faro. Seats are on sale through in 2006 to give it guaranteed distribution. But “There has been big growth compared to last
Monarch and seat-only operator Avro. Kent said having an inhouse agency was less year. It is better than expected,” he said.
important now it had a network of 3,500 agents. Qwerty’s 30 staff will move from Youtravel’s
■ Kite steps down as HRG managing director The sale was suggested by Somers, who said offices in Woking, Surrey, to Frimley, Surrey.
Peter Kite is to stand down as managing director he wanted the freedom to expand into markets
of HRG. The industry veteran is moving to take up outside Youtravel’s accommodation inventory.
the new role of director of supplier partnerships Somers said he hoped to start selling luxury Getabed appointment: Mark Hopper is to join
and industry affairs. Ian Windsor, HRG’s former and long-haul packages as well as developing trade-only company Getabed as sales director.
operations director for Europe, has replaced Kite a portfolio of accommodation accessible to He has 24 years’ experience in the industry and
as managing director. disabled travellers. will join in November from Click with Technology.
Youtravel made a loss of £907,000 in its Getabed managing director Matthew Stuart said
ttglive.com
For the latest news, reviews and comment
first year to the end of October 2007, according he would be targeting consortia and multiples.
from the travel industry, visit
ttglive.com to accounts filed last month.
03.10.2008 05
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