In the Press

I wanted to share with you the news that FCM Travel Solution’s parent company, Flight Centre Travel Group (FCTG), has secured AUD $900 million in additional funding (through a capital raising and new debt facilities) to further strengthen its balance sheet and liquidity position and prepare for further growth once the prevailing business climate improves.

Flight Centre Travel Group (FCTG) Americas has announced that FCTG Mexico President Manuel Viñas will be retiring at the end of July 2020. Current Head of FCM Latin America, Maren Hanschke has been appointed to succeed him and will assume his responsibilities effective March 1, 2020. Viñas will continue to collaborate and assist with the transitioning, and various projects through to his departure on July 31st.

FCM Travel Solutions, one of the world’s largest travel management companies, today announced it has made a minority investment in Shep, the award-winning browser extension technology that assists companies with better management of travel purchased outside of their corporate travel policies.

Flight Centre Travel Group has strengthened the European footprint of its flagship global business travel division, FCM Travel Solutions, with the announcement that it has taken 100% ownership of 3Mundi, FCM’s partner in France and Switzerland.

FLT’s investment is for a 25% interest in Upside which will see it become the business’s largest individual shareholder providing access to Upside’s travel technology platform and software development resources. As part of the agreement, the parties also entered into a commercial deal that covers cooperation on various distribution initiatives that combine FLT’s deep understanding of the corporate travel space with Upside’s powerful technical assets.