Euro stake for Flight Centre

FLIGHT Centre has snapped up a major stake in a French travel and technology group as it ratchets up its presence in Europe.

The travel agency has bought a 25 per cent stake of 3Mundi, with the option to buy the rest of the group later.

Flight Centre managing director Graham Turner said the investment would give the company a platform for further expansion in large and rapidly growing markets.

The Paris-based operation has corporate travel businesses in France and Switzerland.

It also boasts a Barcelonabased business “travel lab” developing proprietary artificial intelligence technology and products for the travel industry.

Brisbane-based Flight Centre said the business was expecting turnover of about €100 million ($148 million) in its 2017 financial year.