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Nov 26, 2009 17:02 EEST
November 26 (SeeNews) - Bulgaria's flag carrier Bulgaria Air has acquired 45% of the local unit of Spanish travel reservations firm Amadeus IT Group for 1.5 million euro ($2.26 million), local Pari daily reported on Thursday.
“Piece by piece we are taking back all that was lost with the liquidation of [the former national carrier] Balkan,” Pari quoted Bulgaria Air CEO Dimitar Pavlov as saying.
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It is essential for a carrier to be able to offer its clients a full circle of tourist services - from ticket sales to hotel reservations. Entering the joint venture with the Spanish company, Bulgaria Air will emerge stronger on the international market, Pavlov said.
Following the deal, the Spanish group retains 55% of its Bulgarian arm. Balkan used to own a minority stake in Amadeus Bulgarian, which it sold to Amadeus IT Group after its liquidation.
Amadeus Bulgaria offers tickets and hotel reservations in the U.S. through an agreement with Spanish flag carrier Iberia. Using Iberia's terminal is convenient for passengers and gives the company an advantage over many European competitors, Pari quoted Amadeus Bulgaria’s CEO Denka Guneva as saying.
Amadeus Bulgaria works with over 200 travel agencies operating in Bulgaria.
Amadeus IT Group, founded by Iberia, Air France, Lufthansa and Scandinavian Airlines System (SAS) in 1987, provides air tickets and hotel reservations in more than 130 countries globally. The company gathers information about flights, hotels and other travel services, and then provides the data and processing capabilities to airlines, travel agencies and online travel websites.
Bulgaria Air is 100% owned by the Chimimport holding.
($ = 0.6636 euro)
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