Australian travel firm Flight Centre invests Rs 100 crore in India

Australian travel company Flight Centre Travel Group has invested Rs 100 crore in India to expand its leisure and corporate travel business.

The group entered India in 2005 acquiring New Delhi-based travel firm Friends Globe and is largely into corporate travel business in India which is run under the FCM Travel Solutions brand.

However the company is growing its leisure travel business with a plan to increase number of retail outlets from 11 to 36 in three years. On Thursday the company opened its fourth store in Mumbai and will establish outlets in tier II and III towns.

"We are bullish about our corporate and retail business in India. The market for premium customised travel is underserved in India and we hope to increase our offerings. On the corporate travel side we bring in insight and transparency and we have also developed booking tool with expense management and bill and settlement solutions,'' said Rakshit Desai, managing director (India), FCM Solutions.

"We have just raised fresh equity capital last month and it will be used to finance our expansion plans. The group's plans to invest in India is a reflection of favourable demand situation and its confidence in delivering travel business solutions in India,'' he added.