Independent agencies welcomed the £45 million acquisition of Gold Medal by Dnata, saying it demonstrated confidence in the UK travel sector.
Dubai-based Dnata, part of Emirates Group, announced the acquisition of the long-haul operator from Thomas Cook on Tuesday.
Cook wrote off £34 million on the deal, having bought Gold Medal for £87 million in 2009.
Dnata vowed to invest to grow Gold Medal in the UK and overseas. It said it expected its independent ownership to rekindle relations with agents.
Iain Andrew, Dnata senior vice‑president of travel, said the independent sector was important to Dnata, although stressed Gold Medal would retain close relations with Cook as its exclusive scheduled air provider.
“We are very careful about where we invest,” he said. “We believe there is an opportunity to grow the business.”
All 470 Gold Medal staff at its Preston office will keep their jobs and the existing management team, led by Steve Barrass, will remain in place.
Julia Lo Bue-Said, managing director of Advantage, said the consortium had maintained a close relationship with Gold Medal during its ownership by Thomas Cook and was now “looking for someone to take it to the next level and offer us unique content”.
“Dnata has boought a business to invest in and ensure it is working closely with the independent sector. That’s a real positive. From our point of view we are really supportive of the move and it will help forge even stronger relationships with them.”
Martin Andrew, commercial director at Travel Network Group, said: “Now Gold Medal is part of an independent business, our members will increase their support.”
Gold Medal and TNG, the parent of Worldchoice and Travel Trust Association, struck a preferred supplier agreement at the end of last year, said Andrew who described the deal as a win for all parties involved.
Miles Morgan, owner of Miles Morgan Travel, said: “I see [Gold Medal’s] independence as a good message. We hope it will become even more agent-focused. It’s nice to see something like this happen that does not mean lots of people losing their jobs.”
Hays Travel managing director John Hays said the deal was welcome. “It shows faith in the UK travel sector that outside investors are willing to invest,” he said.
In December 2011, Dnata bought online agent Travel Republic, which recently agreed a deal with Gold Medal to supply long‑haul flights.