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PRESSRELEASE 1 September 2009 eTRAVELi buys Gotogate.no and Flybillet.dk eTRAVELi also records its best-ever earnings The success story continues for travel agency group eTRAVELi. With sharply increased profitability and an EBITDA of €4.6 million for the first half of 2009, the company continues its success story. Its latest triumph is the acquisition of the Gotogate.no and Flybillet.dk brand. The purchases will further secure the company’s position as a market leader within online travel. Travel agency group eTRAVELi has further strengthened its portfolio of successful brand names with the acquisition of Norwegian Gotogate.no and Danish Flybillet.dk from VIA Travel Group. “We bought Gotogate.no and Flybillet.dk because they are two strong and well-known brand names in their respective markets. The acquisition constitutes yet another step in strengthening our position in Norway and Denmark,” explains Ralph Axelson, CEO at eTRAVELi. “The purchase is easy for us in the sense that we are a cost-effective company with a very efficient organisation and scalable technical platform, which makes it easy for us to create synergies when we make acquisitions,” Axelson continues. Gotogate.no’s and Flybillet.dk’s customers will also benefit from the buy-out; they will now be offered a much larger range of products and services from which to choose. Flybillet.dk was established on 1 July 1999 and was the first online travel agency in Denmark. Flybillet.dk has had great success in Denmark and has continually held a strong position in its market. The brand was bought by VIA Travel Group in 2005. Flybillet.dk is one of best-known Internet travel agencies on the Danish market. About European Travel Interactive AB (eTRAVELi) |
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Ralph Axelson, CEO European Travel Interactive AB Ph: +46 (0) 70 869 29 14 E-mail: ralph.axelson@etraveli.com |