NEW DELHI, Jan 21: FCM Travel Solutions, Indian arm of Australia-headquartered Flight Centre Travel Group, is looking to achieve a turnover of Rs 4,000 crore during the current fiscal year, a top company official said.
The company which follows July to June fiscal year, had clocked a revenue of Rs 2,700 crore in the country in the financial year 2016-17.
“At FCM Travel Solutions we are aiming at achieving around 50 per cent growth this fiscal year. Our target this fiscal year is to reach a turnover of Rs 4,000 crore,” FCM Travel Solutions Managing Director India Rakshit Desai said.
The company operates an extensive portfolio of businesses across leisure, corporate travel and forex, he added.
“55 per cent of our existing business is from corporate travel including SMEs and the remaining 45 per cent business is from leisure travel and forex,” Desai added.
The travel firm is also looking to re-brand its travel retail and holiday brand – Flight Shop.
“We are re-branding our travel retail and holiday brand – Flight Shop to Travel Tours. The re-branding of all 25 Flight Shop stores spread in 17 cities in the country will be completed by January 31, 2018,” Desai said.
Travel Tours has strong brand equity and heritage that will benefit the company when it expands its presence across the nation, he added.
The company had acquired the business interests of Travel Tours Group (TTG), in a cash and stock deal in October 2016, Desai said.
When asked how important is India for the Flight Centre Travel Group, he said: “For Flight Centre Travel Group Australia, India is one of the fastest growing market in their portfolio.”
The accelerated economic growth of the country ranks the Indian chapter as one of the top five countries for the company’s global growth, he added.
“We are adding corporate offices across key metros, tier II and III cities across India. We also plan to increase our footprint across 20 more cities in the next two years through the franchise route,” Desai said. (PTI)
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