Publicly traded Australia-based travel management company Corporate Travel Management has reached a binding agreement to acquire Omaha, Neb.-based Travel and Transport in a deal valued at US$200.4 million. The major TMC tie-up, announced Monday evening in the United States, catapults the combined TMC to the top tier of multinational corporate agencies by size and reach.
Internova Travel Group has expanded its partnership with risk specialist Exlog Global, which this summer began supporting Internova's Altour with a 24/7 hotline to field health and safety queries from travelers and travel managers.
CWT CEO Kurt Ekert spoke with The Beat editor-in-chief Jay Boehmer on the company's new operational structure, its recent capital raise and debt exchange as well as corporate client relationships. "We've spent the shutdown period recalibrating and thinking about what will determine who wins in the long term in the industry," he said.
Travelport has resolved a legal dispute with a group of lenders and reached a new financing arrangement, in "which, among other things, [Travelport's] existing lenders will provide $500 million in new funding to the company," the global distribution system operator announced.
United Airlines is preparing to move its U.S. point-of-sale corporate customers to a new data reporting method for monitoring contract performance, which it began to develop with ARC last year.
A former Travelport employee's U.S. federal lawsuit against her former employer alleging a global distribution system price-fixing scheme in the United Arab Emirates has been voluntarily dismissed, according to a joint notification from the litigants last week and stamped in by an order from the judge this week.
Amadeus last week announced a bellwether distribution agreement with Air France-KLM that serves as a framework for the global distribution system operator to be an aggregator of Air France-KLM's New Distribution Capability-piped content. Speaking with The Beat Monday, Air France-KLM vice president of distribution Emmanuelle Gailland emphasized airline control in the deal's structure, both over the content it delivers and to which agencies it distributes.