Tripsta and airtickets have announced a merger of their two online travel agency (OTA) businesses, creating the largest OTA in southern Europe.
The merger will consolidate the technology and customer base of the two businesses, presenting a sophisticated and wide-reaching transportation offer. The status of the new company is also significant for Greece, as it becomes the largest e-commerce company in the country.
With both companies in March recording 4,749,407 total web visits, bookings exceeding 168,120 and 206,776 tickets sold, it is forecast that the new joint company will command sales in excess of 500 million Euros.
The merger will also enable both Tripsta and airtickets to extend their current customer portfolios, in a number of new European markets. As part of the merger, both Tripsta and airtickets will continue to operate under their existing company brands with new CEO, Philipp Brinkman, and president of the Board of airtickets, Dimitris Kontogeorgos, leading the companies’ transition. The combined companies will have offices in Greece, Russia, Romania, Poland, Turkey and Brazil.
Discussing the merger, Philipp Brinkmann, CEO of Tripsta, said: “We are both hugely excited about this new chapter for our businesses, and the opportunity to perform on a larger global stage. The European OTA market is very fragmented and, as such, consolidation is a key driver for our future success. Therefore, we will see more of these activities in the market in the future.”
Dimitris Kontogeorgos, CEO of airtickets added: “The commercial synergies between both our businesses made a clear argument for a merger. We will be far stronger together and it will mean we can make wider and deeper investments in important technologies for customers.”