The easing of COVID-19 restrictions and a rebound in leisure travel have caused a boom in the online vacation booking market in recent months.
The agreement includes a provision allowing Qantas to take full control of TripADeal in four years and should contribute to the flag carrier’s profit targets for the year 2024.
It would allow frequent flyers from the airline’s frequent flyer division to use their points towards any holiday package from TripADeal, the Sydney-based airline.
Qantas Loyalty was targeting a return to double-digit growth in 2022 and underlying pre-tax profit of A$500 million ($354.85 million) to A$600 million by financial year 2024, it said. she adds.
Earlier this month, Qantas announced its decision to buy the remaining stake in Alliance Aviation Services for A$610.8 million to expand its presence in the charter sector.
($1 = 1.4090 Australian dollars)