Triton Conference 2007
Speaking at the second ever Triton conference in Vilamoura in the Algarve, Triton advisor George Begg said the funds raised through the flotation would be invested back into the super consortium, with its operating arm Triton Holidays expected to be the key beneficiary.
Begg said the flotation would ultimately lead to a virtual, vertically integrated tour company which could trade without being hampered by the costs of owning airlines or accommodation. Members would not only be able to sell a wider range of Triton stock, but would also continue working with the consortium’s designated suppliers.
Following the deal, agents selling mass market holidays could expect to sell around £200,000 worth of extra business, earning around £24,000 extra in commissions, he claimed, although he added that no deal had yet been struck and there were still many hurdles to cross if the companies were to merge.
Triton chairman Colin Heal said that more information would be made available about the proposed deal and members and shareholders should expect a consultation to take place almost immediately. It would then be put to a full vote which would require 75% of members to agree to the deal before it could be given the green light.
“Discussions are taking place to consider if the time is right for a merger, but no final decisions have been taken,” Heal added.
While timings remain unclear as to exactly how quickly the process will take, it is hoped the consultation will be completed within the next two to three months with the deal likely to be done by the end of the year if it wins members’ approval.
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