Flight Centre Formally Completes Indian Acquisition

Flight Centre Limited has formally completed the acquisition of a majority holding in India based corporate travel business Friends Globe Travels Limited (FGTL).

The company agreed to acquire 51% of FGTL earlier this year and has now received regulatory approval from the Indian authorities to complete the transaction.

Agreements are in place for Flight Centre Limited to acquire the remaining 49% from FGTL managing director Rahul Nath at a price that will be determined according to the business’s performance over the next five years.

Mr Nath and his leadership team will continue to run the business, which is part of Flight Centre Limited’s FCm Travel Solutions corporate travel management network.