SINGAPORE, 17 October 2017: Wings Travel Management, a global travel management company, is expanding its presence in the Asia Pacific region with an acquisition of a well known travel firm in Singapore.
Majoring in business travel and support services for clients in the corporate, oil, gas and marine industries, the company sealed a Sale and Purchase Agreement for the acquisition of a 70% stake in Olympia Travels & Tours for an undisclosed sum.
Although the acquisition will not be completed before 1 January 2018, Wings will serve its existing customers in Asia from Singapore with immediate effect.
Incorporated in Singapore in 1982, Olympia Travels is a medium-sized corporate travel company providing personal tailored travel services to national and international clients primarily in the energy, marine and corporate sectors. The company employs 30 staff.
The acquisition also coincides with the appointment of Nicole Liang to the newly created position of vice president Asia Pacific, Wings Travel Management, based in Singapore.
She brings to the post 27 years of corporate travel experience in the Asia Pacific market, with specific strengths in the energy and marine sectors.
For the last four years she has held the post of director of operations SEA at FCM Travel Solutions where she founded the TMC’s marine and energy brand. Her career has also included operational roles at Corporate Travel Singapore, CWT Singapore and Instone International.
Established in 1992, Wings Travel Management’s global reach already spans North America, South America, UK/Europe, Africa, and the Middle East.
Headquartered in London, Wings has 16 wholly owned and managed regional operations in key locations worldwide including Aberdeen, Cape Town, Dammam, Dubai, Houston, Johannesburg, Lagos, Luanda, London, Maputo, Stavanger, and Rio de Janeiro.
Wings Travel Management employs over 400 people around the world and has a global turnover of around USD325M.
Wings Travel Management CEO, Tony Sofianos commented: “We have been looking to expand our operations to the Asia Pacific region and this acquisition strengthens our footprint in this region significantly. It also gives us the operational platform to provide complete travel and support services to clients across the whole region through a hub and spoke model”.
“As Wings continues to expand globally, our focus remains on wholly owned and controlled operations versus partner agencies or joint ventures so that we can ensure consistency of service, quality and data integrity,” added Sofianos.