By Monika Canty
Middle East's largest travel management firm says eyeing various investments, acquisitions
Kanoo Travel, the biggest travel management company in the Middle East, has said it "would not rule out" the possibility of launching its own airline.
Sunil D’Souza, Kanoo's regional travel director, said the company was currently undergoing a major expansion drive and was eyeing up various investments and acquisitions in a bid to becoming a "truly global company".
“When it comes to acquisitions and investments there are a number of things you can do,” said D’Souza in comments published by Hotelier Middle East.
“What about an airline? Well, why not? That could be a reality in the next couple of years," he said.
"We don’t have plans as of now to start an airline but I don’t rule out any good possibilities in the future. It is subject to the owners discretion and their plans and ideas. And when the time is right they will decide on whether to start an airline or even to launch some hotels," he added.
D’Souza who is now managing the “five major growth markets” of UAE, Oman, Qatar, Iraq and Afghanistan identified Iraq as being the biggest areas of opportunity for Kanoo Travel over the coming few years.
The company has offices in Erbil and Baghdad and is also planning to expand into southern Iraq.
D’Souza said Kanoo was also considering futher expansion outside of the GCC region. The company already has 22 locations in the UK.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
A Kanoo entrepreneur may grow its business either by internal expansion or by external expansion. In the case of internal expansion, a firm grows gradually over time in the normal course of the business, through acquisition of new assets, replacement of the technologically obsolete equipments and the establishment of new lines of products. But in external expansion, a firm acquires a running business and grows overnight through corporate combinations. These combinations are in the form of mergers, acquisitions, amalgamations and takeovers and have now become important features of corporate restructuring. They have been playing an important role in the external growth of a number of leading companies the world over especially Kanoo. I wish Kanoo Travel all success.