Singapore’s GTMC Travel has formed a new partnership that will offer tour packages to Laos.
A new joint venture with Lao Airlines’ travel division, Champa Holidays, is aimed at offering both inbound and outbound packages to and from Laos. Lao Airlines will hold a 51% stake in the new JV company, with GTMC taking 49%. Both companies will have two directors on the new company’s board.
The JV will initially employ 10 staff at Lao Airlines’ head office in Vientiane.
Samson Tan, CEO of GTMC Travel, said he expects “sales revenue to go up by 50% year-on-year” following the formation of the JV.
“It’s an honour to be invited by QV (Lao Airlines) to this partnership and with our vast network of offices in Asia and beyond, I am sure it will significantly contribute to rapid growth for both organisations. We will use Vientiane as a stopover destination by providing free stop over tours for passengers using QV to transit to their destinations,” said Tan.
Lao Airlines’ vice president, Saleum Tayarath added; “It’s a breakthrough for an airline to partner an external organisation to manage their holiday division. As a young airline, we are expecting tremendous air seat growth through our holiday division. GTMC is a well-established and proven brand and we believe both companies have great synergy to move to the next level.”
Moving forward, Champa Holidays will appoint GSAs in a series of countries served by Lao Airlines.