Jetset Travelworld Limited Chairman, John King announced this afternoon that the Company had acquired the assets of Orient Pacific Holidays Pty Limited (In Administration) from business reconstruction specialists, PPB.
Orient Pacific Holidays is a niche Pacific Islands travel wholesaler and was part of TSG which was placed under administration recently
Financial details of the transaction are confidential, but Jetset Travelworld CEO, Michael Reed said it is proposed to utilise this new business to re-establish a presence in Pacific niche markets for members of the Jetset Travelworld network and to further broaden the Group’s distribution.
Report by The Mole
