Troubled UK package tour company Airtours could be in takeover talks with German rival C&N Touristic.
LONDON (Brand Republic) – Troubled UK package tour company Airtours could be in takeover talks with German rival C&N Touristic.
Airtours, which yesterday posted losses of £75m in the first nine months of the year, is already in the final stages of completing its takeover of another German company, Frosch Touristik.
It is this acquisition which was been the biggest drain on Airtours profits, but the company has otherwise seen healthy sales increases in the UK, with bookings here up 16%.
Airtours chairman, David Crossland, said he would downsize its Belgian operations, reorganise in Holland and get out of France. He refused to comment on whether the company was up for sale.