Emirates Group’s travel and airport services unit dnata said today it has purchased a stake in Asian travel firm Destination Asia Group.
The firm is an integrated travel management company operating in 11 Asian countries, including China, Japan and Thailand.
The agreement is dnata’s first entry into Asia’s inbound travel segment and the latest in a series of travel and airport operations acquisitions globally by the cash-rich unit.
“Our stake in Destination Asia opens the door to business opportunities in new markets, and will strengthen dnata’s position as a global player in travel,” Divisional Senior Vice President of dnata’s travel business, Iain Andrew, said in the statement.
The size and value of the stake were not disclosed.
Having reported a profit in excess of Dh1 billion for the first time in the financial year to March 31, dnata has already made a number of acquisitions this year.
Last week, it announced a joint venture with Norway’s G Travel, and in April it acquired American airport ground handling operator Ground Services International.
Holding Dh3.5 billion in cash assets, dnata will re-enter the Iranian market by the end of June with a joint venture travel services company based in Tehran, dnata presindet Gary Chapman told Gulf News last month. He also later said that talks were underway to acquire a cargo handling unit in Canada and that the unit is also looking at growing its business in Brazil.
Destination Asia Group will add to a portfolio of dnata travel businesses, including Stella Travel Services, Gold Medal Travel Group and Travel Republic.
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