Cheapflights has revealed it will undertake a massive re-design of its website by the end of 2007 as it looks to expand into new markets.

The redevelopment will be the first major overhaul of the site in years and follows what bosses have labelled “one of the most exciting periods in the company’s history”.

Chief executive David Soskin has also pledged to an ambitious expansion programme that will see the brand establish a presence in every major online travel market in the world within five years.

Central to the success of various projects to be undertaken during 2007 will be the announcement in the coming weeks of a new role of chief technology officer.

Vice chairman and head of international Hugo Burge said the site would be put on a new technology platform and improve the site’s branding.

“Cheapflights will be using this new design and platform to underpin an international expansion strategy, months in the planning,” he said.

The company, which celebrated ten years in business in 2006, has made no secret of the options available, as speculation intensifies to whether the company will be put up for sale, seek new funds from private investors or opt for a public listing on the London Stock Exchange.

Burge, who refused to comment on future ownership or investment opportunities, said: “2007 marks the year that Cheapflights grows up and our plans to think big become self-evident.”