China Travel & Tourism News
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Flight Centre in Comfort in China
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27-Apr-2004 - |
Flight Centre has agreed a 50 percent joint venture with China Comfort Travel which will create a new China-based travel operation, Flight Centre-Comfort Business Travel Service. Flight Centre entered into a short-term management arrangement with China Comfort last year following Rosenbluth International's exit in the wake of its takeover by American Express. Flight Centre chairman Norman Fussell said the joint venture provided the company with a "strategic opportunity to enter China's rapidly growing corporate travel market through an established and operating vehicle". Flight Centre's Corporate Division will take over day-to-day management, systems and financial control of the Beijing and Shanghai-based joint venture. The agreement will see Flight Centre pay US$1.25 million to China Comfort, with each joint venture partner contributing US$750,000 of equity into the business. |
27-Apr-2004 - |
Main Cities in China Travel and China Hotels


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