Australian TMC FCm Enters U.S. With Bannockburn Buy

Australia's Flight Centre, parent of the growing travel management company network FCm Travel Solutions, today announced the purchase of Chicago-based Bannockburn Travel Management for $9 million. The deal is Flight Centre's first in corporate travel in the United States, but Flight Centre said it is a prelude to a much bigger acquisition on the East Coast later this year.

Bannockburn ranked 22nd among U.S. travel management companies in BTN's 2005 Business Travel Survey in terms of 2004 ARC air transactions at 103,000. It transacted $51 million of air volume in 2004 and has 80 staff across the Midwest. Company founder Joe Mazza will continue to run the company for at least three more years. Bannockburn, which will be renamed FCm Travel Solutions, was a shareholder in the global Radius TMC network.

The deal represents Flight Centre's eleventh acquisition in corporate travel. The company has wholly owned FCm offices in ten countries and licensees in another 47 markets.