December 23, 2006
Aurinkomatkat-Suntours acquires Estonian Horizon Travel
Finnair Group's tour operator Oy Aurinkomatkat-Suntours Ltd Ab acquires the second largest tour operator on the Estonian market, Oü Horizon Travel. Pending on the decision of the Estonian competition authorities, Horizon Travel will join Aurinkomatkat as a subsidiary in early 2007. The Managing Director Cinzia Siig will continue as a minority shareholder in Horizon Travel. The purchase price has not been disclosed.
"With this acquisition Aurinkomatkat seeks to establish a firm foothold on the rapidly expanding Estonian tour operating market. The arrangement will bring synergies on both sides of the Gulf of Finland." says Jukka Salama, Managing Director of Aurinkomatkat.
Horizon Travel the second largest tour operator on the Estonian market measured in number of clients and turnover. The main destinations of Horizon Travel are, among others, Gran Canaria, Tenerife, Thailand, Costa del Sol and Rhodes. The number of customers is expected to mount to some 20 000 in the year.
Aurinkomatkat is the strongest brand in leisure travel and it is the biggest tour operator with its 35 per cent market share in Finland. Aurinkomatkat has the widest range of products, of which the most important is the beach holiday either in European or long-haul destinations. Aurinkomatkat has 350 000 customers annually corporations.
Jukka Salama, Managing Director, Oy Aurinkomatkat-Suntours Ltd Ab,
tel. +358 10 446 7000
Tom Selänniemi, Deputy Managing Director, Oy Aurinkomatkat-Suntours Ltd Ab,
tel. +358 10 446 7035, email@example.com
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