FCTG buys 25% of travel group 3Mundi including operations in France, Switzerland and Spain.
Flight Centre has just announced a minority interest in 3Mundi, its FCM licensee in France and Switzerland, with additional agreements in place to allow the company to potentially increase its holding to 100% in the future.
Established in 2006, 3Mundi has been part of the FCM network since 2015, with Flight Centre managing director Graham Turner saying the investment would strengthen the company’s global corporate network and give it a platform for further expansion in large and rapidly growing markets.
“France and Switzerland are important corporate travel hubs for our existing customers and for new multi-national accounts that we are targeting globally,” he said.
Flight Centre’s European presence now includes businesses in the UK, Ireland, the Netherlands, Sweden, Finland, Norway, Denmark, Germany, France and Switzerland. 3Mundi’s operations also include a “business travel lab” based in Barcelona, Spain which is “successfully developing proprietary artificial intelligence technology and products for the travel industry,” Turner said.
3Mundi is expected to turnover about 100 million euro this financial year, with terms of the acquisition not revealed at this stage.
More details in today’s issue of Travel Daily.