London-based Wings Travel Management is acquiring a 70 per cent stake in Singapore’s Olympia Travels & Tours for an undisclosed sum, a move that will give the former its first operational capabilities in Asia.
While the acquisition is expected to be completed by January 1, 2018, Wings said it has with immediate effect gained a better position to serve its existing customers in Asia from Singapore.
The move gives Wings the platform not only to grow its business in Asia-Paific, but also the operational capabilities to fully service clients across the region via a hub and spoke model, the company said in a statement.
Tony Sofianos, CEO of Wings, commented: “As Wings continues to expand globally, our focus remains on wholly owned and controlled operations versus partner agencies or joint ventures so that we can ensure consistency of service, quality and data integrity.”
Nicole Liang has been appointed to the newly created position of vice president, Asia-Pacific, Wings, based in Singapore. She brings 27 years of corporate travel experience in the Asia-Pacific market, with specific strengths in the energy and marine sectors. For the last four years she has held the post of director of operations SEA at FCM Travel Solutions where she founded the TMC’s marine and energy brand. Her career has also included operational roles at Corporate Travel Singapore, CWT Singapore and Instone International.
Established in 1992, Wings has clients in the corporate, oil, gas and marine industries – and a reach that spans North America, South America, UK/Europe, Africa and the Middle East. It has 16 wholly owned and managed regional operations in key locations worldwide including Aberdeen, Cape Town, Dammam, Dubai, Houston, Johannesburg, Lagos, Luanda, London, Maputo, Stavanger and Rio de Janeiro. Wings said it employs over 400 people around the world and has a global turnover of around US$325 million.
Olympia is a medium-sized corporate travel company servicing clients in the energy, marine and corporate sectors. The company employs 30 travel management professionals, according to the statement.