Our company starts with one double decker bus in 1973. Over four decades, Flight Centre Travel Group grows to become a $19 billion business consisting of more than 40 brands. Today, we are one of the world's largest travel groups with company-owned operations in 16 countries and a corporate travel management network that spans more than 90 countries.
Flight Centre Limited continues to expand globally. We start operations in India, Dubai and Singapore.
As margins on airfares decrease, we create our own in-house direct contractor, Flight Centre Global Product, to find new margins in land product. We diversify into new sectors – foreign exchange, bike retail and bike wholesale.
We make our biggest acquisition to date with Liberty Travel and GoGo Vacations in the USA. This coincides with the global financial crisis. People stop travelling and businesses tighten their belts. In March 2009, Flight Centre Limited shares plummet to an all-time low of $3.39.
We start our corporate travel operations in India when we acquire a stake in Friends Globe Travel and rebrand as FCM Travel Solutions. We open our first Flight Shop store in India in 2007. This is the name for the Flight Centre brand in India.
We launch Round the World Experts in the UK to offer expert advice on creating tailor-made and cost-effective itineraries round the world. To support our service, the brand has an in-house Travel Butler on hand to help customers before and during their travels.
We acquire Nationwide Currency Service in Australia and rebrand as Travel Money. We open standalone outlets and also incorporate this foreign exchange service into existing Flight Centre and Escape Travel shops. Ten years later, Travel Money is in New Zealand, India and the USA.
Our operations in the United Arab Emirates start with FCM Travel Solutions. In 2013, we open our first Flight Centre shop in Dubai's Gold and Diamond Park.
The first 99 Bikes shop opens offering a range of mountain, road, hybrid and BMX bikes and accessories. In 2008 we acquire Advance Traders as a bike wholesaler and distributor.
We launch My Adventure Travel as a one-stop-shop for adventure tours and experiences.
We acquire Explore Holidays, a wholesale brand that supplies niche European product for our retail outlets.
We buy Liberty Travel and GoGo Vacations in the USA. Established in 1951, Liberty Travel is credited with inventing the complete vacation package (with air, hotel and car hire), supported by wholesale brand GoGo.
We start operations in Singapore in 2008 via a joint venture partnership with Air Services Singapore so we can launch FCM Travel Solutions. We open our first Flight Centre Shop in 2011.
Flight Centre Travel Group is committed to building a brighter future and giving back to the communities where we work, live and travel. We start the Flight Centre Foundation in Australia and then expand its reach globally over the coming years.
We acquire Back-Roads Touring Co. Established in 1986, Back-Roads specialises in small group tailor-made tours across the UK and Europe.