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Greek merger creates Europe's 5th largest online travel agency (OTA)

Today, Tripsta  and airtickets have announced a merger of their two online travel agency businesses. Themerger marks a significant shift in the hierarchy of Europe’s OTA power-players as the newly united company becomes the largest OTA in South Eastern Europe and is now amongst Europe’s top 5.

Driven by an increasingly fragmented European OTA market, the merger looks to consolidate the technology and customer base of these two major businesses, presenting an even more sophisticated and wide-reaching transportation offer. The status of the new company is also significant for Greece, as it becomes the largest ecommerce company in the country.  

With both companies in March (2015) recording 4,749,407 total web visits, bookings exceeding 168,120 and 206,776 tickets sold, it is forecast that the new joint company will command sales in excess of 500 million Euros. The merger will also enable both Tripsta and airtickets to extend their current customer portfolios, in a number of new European markets. As part of the merger, both Tripsta and airtickets will continue to operate under their existing company brands with new Chief Executive Officer, Philipp Brinkman, and President of the Board of airtickets, Dimitris Kontogeorgos, providing a solid value proposition and a management team to ensure continued growth within Europe and globally. The combined companies will have offices in Greece, Russia, Romania, Poland, Turkey and Brazil.  

About the merger Philipp Brinkmann, CEO of Tripsta commented; “We are both hugely excited about this new chapter for our businesses, and the opportunity to perform on a larger global stage. At Tripsta our strategycontinues to be offering customers the most innovative and convenient travel solutions and the merger will strengthen our ability to do this. The European OTA market is very fragmented and, as such, consolidation is a key driver for our future success.  Therefore, we will see more of these activities in the market in the future.”  

Dimitris Kontogeorgos, CEO of airtickets added; “The commercial synergies between both our businesses made a clear argument for a merger. We will be far stronger together and it will mean we can make wider and deeper investments in important technologies for customers.”

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